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Banco Santander ( (ES:SAN) ) just unveiled an update.
Banco Santander has announced its decision to execute an optional early redemption of its outstanding 4.375% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities, valued at over one billion euros. This move, authorized by the European Central Bank, is set to occur on the sixth anniversary of the securities’ issuance, with the redemption price covering the nominal value and any unpaid distributions, impacting stakeholders by concluding this financial obligation.
More about Banco Santander
Banco Santander is a major financial institution operating in the banking industry, offering a range of financial services including retail and commercial banking. The company is known for its global presence and focus on providing innovative banking solutions.
For an in-depth examination of SAN stock, go to TipRanks’ Overview page.