Santander Holdings USA has announced details of its final tender results.
The wholly-owned subsidiary of Banco Santander revealed it has completed its cash tender offer for any and all of its Sovereign Capital Trust IV 4.375 per cent Trust Piers that were still outstanding.
According to the group - which is the holding company for Sovereign Bank, a financial institution operating primarily in markets in northeastern parts of the US - an aggregate liquidation amount of its Trust Piers has been tendered and accepted for purchase as part of the tender offer.
This amount stood at around $323.4 million, which represented around 40.4 per cent of the outstanding aggregate liquidation total of securities such as these.
Trust Pier holders will have received $78.95 per $50 liquidation amount of Trust Piers tendered, provided they tendered the securities at or before the expiration date of 27 December 2012.
By Gary Cooper