Last checked at 20 Jan 2010 11:57
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Santander Announces Results of Cash Tender Offer for
Abbey National plc 7.95% Term Subordinated Securities due 2029
ISIN: US002920AC09 CUSIP Number: 002920AC0
Santander Central Hispano Issuances Limited 7.25% Subordinated Guaranteed Notes due 2015
ISIN: US802813AD76 CUSIP Number: 802813AD7
JANUARY 20, 2010
MADRID. Banco Santander ("Santander") announces the results of its cash tender offer (the "Tender Offer") for any and all of the outstanding 7.95% Term Subordinated Securities due 2029 (the "Abbey notes"), issued by Abbey National plc ("Abbey"), and 7.25% Subordinated Guaranteed Notes due 2015 (the "SCHI notes" and, together with the Abbey notes, the "Notes"), issued by Santander Central Hispano Issuances Limited ("SCHI").
Approximately $440.3 million aggregate principal amount of the Abbey notes and approximately $99.0 million aggregate principal amount of the SCHI notes were tendered in the Tender Offer. Santander has accepted for purchase all of the Notes validly tendered in respect of the Tender Offer. Santander expects settlement for the purchase of accepted Notes to occur on January 22, 2010 (the "Settlement Date").
The amount to be paid on Settlement Date will include the Consideration ($1,230 per $1,000 principal amount of Abbey notes and $1,120 per $1,000 principal amount of the SCHI notes) plus all accrued and unpaid interest on the Notes accepted for purchase, from (and including) the immediately preceding interest payment date for such Notes to (but excluding) the Settlement Date.
The Tender Offer, which launched on January 11, 2010 and expired at 5.00 p.m., New York City Time, on January 19, 2010, was made upon the terms and subject to the conditions set forth in the Offer to Purchase dated January 11, 2010 and the related Letter of Transmittal, and this release should be read in conjunction with those documents. BofA Merrill Lynch was the Dealer Manager for the Tender Offer.
For further information, please contact:
| DEALER MANAGER | ||
| BofA Merrill Lynch One Bryant Park New York, NY 10036 Attention: Debt Advisory Services Tel: +1 646 855 3319 Attention: Adnan Riaz E-mail: adnan.riaz@baml.com | ||
| INFORMATION AND TENDER AGENT | ||
| Acupay System LLC
Email: scruz@acupay.com Website: www.Acupay.com/SanCashTender |