Santander Holdings USA Inc. prices senior notes
Santander Holdings USA Inc. announced Monday it has priced $800 million in aggregate principal amount of 4.400 percent senior unsecured notes due 2027 and $440 million in aggregate principal amount of 3.700 percent senior unsecured notes due 2022 in a private offering.
As a private event, the bank is exempt from the registration requirements of the Securities Act of 1933. The New 2022 Notes will be issued as additional notes under the indenture pursuant to which the company’s existing 3.700 percent senior unsecured notes were issued in March 2017.
The company expects to use the net proceeds from the offering for general corporate purposes. The Notes offering is expected to close on July 13, 2017, it announced in a statement.
“The closing is subject to customary closing conditions, and there can be no assurance that the issuance and sale of the Notes will be consummated,” Santander said in the statement.
The Notes will be offered and sold only to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act.
The Notes have not been registered under the Securities Act or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws, Santander said.