Santander UK targets capital optimisation with T2 tender offer

By Tyler Davies
25 Feb 2020

Santander UK is looking to buy back part of a subordinated bond issued in 2013 in a bid to “optimise its regulatory capital structure”.

The UK lender said on Monday that it was inviting holders of its $1.5bn 5% November 2023 tier twos to tender some of their notes for cash.

The tender offer is set to expire on March 20 at midday New York time.

Santander UK will only buy back ...

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