Santander tweaks exchangeable to meet 9% EBA target

09 Jan 2012

Banco Santander has transferred a 4.41% stake in its Brazilian subsidiary to an undisclosed counterparty in one of several measures that have helped it meet the European Banking Authority’s 9% core equity tier one ratio.

It gave details of the transaction on Monday when it reported how it had met the EBA target early. The Santander Brasil shares were part of a 5% stake underlying a $2.719bn privately-placed exchangeable bond that it sold to Qatar Holding in October 2010. Those bonds were not ...

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