Santander

European and UK issuers have driven the US Private Placement (US PP) market to near record highs, despite concerns around the Brexit vote and US presidential elections. Now, the prospect of the end of an era of record low rates could push volumes to unprecedented levels, writes Elly Whittaker.

Shareholders of Abengoa on Tuesday endorsed a landmark debt restructuring for the renewable energy company — and averted the largest corporate bankruptcy in Spain’s modern history.

Santander Chile, which sent a strong message about its financing capabilities with two consecutive deals immediately after the US election result, will adapt to the Trump era with more international bond issuance, the bank’s CFO told GlobalCapital.

Donald Trump’s shock victory in the US presidential elections was no obstacle to Santander’s Chilean arm this week as the bank became the first issuer from the South American country to raise financing in Taiwan’s Formosa market, as well as pocketing Sfr125m ($125m) from a clutch of Swiss investors.

Three corporate issuers pushed deals into a widening primary market on Wednesday with mixed results, as rates volatility kept new issue premiums elevated for borrowers.

Banco Santander Chile has responded to a reverse enquiry by printing a Sfr125m ($125m) May 2025 bond. Riding off Chilean reputation in the Swiss market, and a scarcity of LatAm offerings this year, the lead managers kept the tickets tightly priced.

Donald Trump’s shock victory in the US presidential elections was no obstacle to Santander’s Chilean arm as the bank became the first issuer from the South American country to raise financing in Taiwan’s Formosa market.

Donald Trump’s shock victory in the US presidential elections was no obstacle to Santander’s Chilean arm as the bank became the first issuer from the South American country to raise financing in Taiwan’s Formosa market.

Bankers said that none of the three names in the visible Lat Am pipeline would be likely to issue any time soon as a sell-off in US rates brought sudden volatility to EM bond markets, even in economies not considered affected by a Donald Trump presidency.

National Express, the UK coach operator, tapped the sterling bond market on Friday with a £400m seven year trade that swerved volatility in the Gilt market.

Saudi Electricity Company has signed a $420m loan from Crédit Agricole and Santander as growing domestic funding needs open up more opportunities for international banks.

Banco Santander’s largest markets slapped the bank’s results for the last three quarters, with new and old troubles ranging from the recent UK’s referendum to Spain’s property bubble.