top of page

Banco Santander, S.A. - Consent Solicitation - Results - LIBOR

Banco Santander, S.A. announces results of the Syndicate of Holders meeting in respect of its USD 30,000,000 Floating Rate Instruments due 17 May 2024 (ISIN: XS1820752308) under the Banco Santander, S.A. €25,000,000,000 Programme for the Issuance of Debt Instruments


10 MAY 2023


Full announcement including disclaimers and offer restrictions available via Euronext


"Banco Santander, S.A. (the “Issuer”) has today announced the results of a Meeting (as defined below) in respect of its USD 30,000,000 Floating Rate Instruments due 17 May 2024 (ISIN: XS1820752308; Common Code: 182075230) issued under its €25,000,000,000 Programme for the Issuance of Debt Instruments (the “Notes”)."


...


"The Issuer has today notified to the Holders that the Resolution with respect to the Notes was duly passed at the Meeting."


...


"Events following announcement of the results of the Meeting


- Execution of the Supplemental Agency Agreement and the Deed of Amendment


- As soon as reasonably practicable after the Resolution is passed


- The Issuer will execute the Supplemental Agency Agreement and the Deed of Amendment and will use its best endeavours to register the Deed of Amendment with the Commercial Registry of Cantabria as soon as possible after the Resolution is passed.

Upon execution of the Supplemental Agency Agreement and the Issue and Paying Agent taking such actions as are necessary to update the relevant global note as required by the Supplemental Agency Agreement, the amendments to the Conditions described in this Consent Solicitation Memorandum will become effective."

 

Banco Santander, S.A. announces Consent Solicitation in respect of its USD 30,000,000 Floating Rate Instruments due 17 May 2024 (ISIN: XS1820752308) under the Banco Santander, S.A. €25,000,000,000 Programme for the Issuance of Debt Instruments


25 APRIL 2023


Full announcement including disclaimers and offer restrictions available via Euronext



"Banco Santander, S.A. (the “Issuer”) has today announced a consent solicitation (the “Consent Solicitation”) in respect of its USD 30,000,000 Floating Rate Instruments due 17 May 2024 (ISIN: XS1820752308; Common Code: 182075230) issued under its €25,000,000,000 Programme for the Issuance of Debt Instruments (the “Notes”)."


...


"Background of the Proposal


The purpose of the Consent Solicitation is to seek the approval of Holders to certain agreements and to amend the Conditions and amend and restate the Final Terms relating to the Instruments so as to (i) apply Compounded Daily SOFR with Observation Period Shift plus the Margin and the Spread Adjustment (in each case, as defined in Schedule 2 to the Consent Solicitation Memorandum) as the Interest Basis applying as of the Interest Period beginning on (and excluding) 17 May 2023 and (ii) include new fallbacks for SOFR. The Consent Solicitation Memorandum, a copy of which is available as indicated below, explains in full the background to and reasons for, gives full details of, and invites the Holders to approve (at the Meeting), the Proposal."

1 view0 comments

Comments


bottom of page