Santander takes $1.25bn in Christmas shopping

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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