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Banco Santander ( (ES:SAN) ) just unveiled an update.
Banco Santander has announced the terms for a new issuance of €1.5 billion contingent convertible perpetual preferred securities, set at a 6% annual remuneration for the first six years. These securities will qualify as additional tier 1 capital and are designed to strengthen the bank’s capital base. The bank is also inviting holders of its existing preferred securities to tender them for purchase, with the offer set to expire on 30 June 2025. This strategic move is expected to enhance Santander’s financial stability and market positioning by optimizing its capital structure.
More about Banco Santander
Banco Santander, S.A. operates in the financial services industry, primarily offering banking products and services. It is a global bank with a focus on retail and commercial banking, wealth management, and insurance services.
For an in-depth examination of SAN stock, go to TipRanks’ Overview page.