FormyJob
No Result
View All Result
  • Home
  • Banking
  • Investing
  • Insurance
  • Retirement
  • Taxes
  • Home
  • Banking
  • Investing
  • Insurance
  • Retirement
  • Taxes
No Result
View All Result
FormyJob
No Result
View All Result

Santander places 750 million in coconuts at 4.1%

formyjob by formyjob
May 6, 2021
in Banking, Insurance, Taxes
0 0
0
Santander places 750 million in coconuts at 4.1%
0
SHARES
58
VIEWS
Share on FacebookShare on Twitter

A week after Santander surprised the market with the presentation of the results, the entity now takes advantage of the good financial conditions to obtain resources at attractive prices. After yesterday the bank awarded 500 million Swedish crowns (about 49 million euros) in green debt to partially finance the portfolio of eligible loans, today Santander is trying its luck with the issuance of two tranches of convertible contingent bonds (cocos en la jargon).

In parallel, it studies placing coconuts denominated in dollars with a coupon of 5%

For the reference denominated in euros, Santander has placed 750 million. The bonds will accrue a quarterly coupon of 4.125%, slightly below the 4.5% with which the operation started. Coconuts are a type of perpetual debt with a repayment option after the time established by the entity. In the case of the titles awarded this Thursday, the deadline is seven years. In parallel to these bonds, Santander intends to place coconuts in dollars with a repayment option in the sixth year. The coupon with the part of the operation is 5% payable quarterly.

Coconuts are a type of hybrid emission. In other words, it shares characteristics of debt (pays interest) and capital, since they have the ability to absorb losses. The bonds you are issuing today will be converted into shares only when the CET1 capital ratio falls below 5.125%.

Barclays, BNP Paribas, Citi, Bank of America, JP Morgan, Deutsche Bank, MS and Santander are the underwriter banks in charge of bringing the operation to fruition.

The last time Santander issued coconuts was in January 2020 when it placed 1,500 million to replace the issue of convertible contingent bonds sold in 2014. The coupon achieved with this issue was 4.375%. At the beginning of the year, the emission of coconuts has been very limited. Before Santander, only Abanca (300 million) and Sabadell (500 million) had tried their luck in the market with this type of assets.

Previous Post

Serunion announces 68 job offers for kitchen professionals with permanent contracts

Next Post

Jeff Bezos sells Amazon shares for more than 2 billion

Next Post
Jeff Bezos sells Amazon shares for more than 2 billion

Jeff Bezos sells Amazon shares for more than 2 billion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Recent Posts

  • Samsung S95BA OLED Review
  • OnePlus 8T review
  • Notepad T 10s Review
  • What is a lot in cryptocurrency trading?
  • What should you know before investing in Bitcoin?

Recent Comments

  • A WordPress Commenter on Default Kit

Archives

  • May 2022
  • November 2021
  • October 2021
  • September 2021
  • May 2021
  • April 2021
  • March 2021

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
FormyJob

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories

  • Banking
  • Insurance
  • Investing
  • Retirement
  • Review
  • Services
  • software
  • sports
  • Taxes
  • Uncategorized

Follow us on social media

Recent News

  • Samsung S95BA OLED Review
  • OnePlus 8T review
  • Notepad T 10s Review
  • Home
  • Banking
  • Investing
  • Insurance
  • Retirement
  • Taxes

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • blog
  • Home
  • Privacy Policy

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In