Santander takes $1.25bn in Christmas shopping

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By Jasper Cox
12 Dec 2017

Santander Holdings USA offered investors two tranches of senior debt on Monday as it looked to close in on its total loss-absorbing capacity (TLAC) requirement.

The entity is the intermediate holding company for Santander’s operations in the US, so its debt is TLAC-eligible. It issued a $1bn tranche of five year notes at 130bp over US Treasuries, from 150bp area at initial price thoughts.

It also tapped a July 2027 bond, ...

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