Key Developments: Banco Santander SA (SAN)

SAN on New York Consolidated

4 May 2015
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Latest Key Developments (Source: Significant Developments)

Banco Santander to issue up to 2.5 bln euros in CoCo bonds-Reuters
Tuesday, 2 Sep 2014 03:27am EDT 

Banco Santander SA:Santander said it would issue up to 2.5 billion euros ($3.28 billion) in contingent convertible "CoCo" bonds, which can be converted into the bank's shares and are used to reinforce capital levels-Reuters.Lender said the issue would be targeted at professional investors, and is convertible into new Santander shares.Terms and price of the deal have not yet been set.These types of securities usually convert into shares or are wiped out if a bank's equity capital falls below a set level.  Full Article

Moody’s Investors Service upgrades Banco Santander SA covered bond ratings to A3 - Reuters
Tuesday, 29 Jul 2014 07:55am EDT 

Banco Santander SA:Moody’s Investors Service upgrades Banco Santander SA covered bond ratings to A3 - Reuters.  Full Article

Banco Santander gives further details on script dividend
Friday, 11 Jul 2014 11:49am EDT 

Banco Santander SA:Resolves to execute share capital increase and has fixed overall market value of increase (amount of alternative option) in 1,825 million euros.Increase serves as instrument for shareholder-remuneration program named Santander Dividendo Eleccion which shall be applied to the first 2014 interim dividend in July / Aug. 2014.Number of free allotment rights needed to receive new share is 49.Number of shares to be issued is 240,368,992.In view of number of shares to be issued, maximum amount of increase is 120,184,496 euros.Gross price at which Banco Santander undertakes to purchase rights is 0.152 euro per right.Those shareholders willing to receive their remuneration in cash, will be able to sell their free allotment rights to Banco Santander at fixed gross price of 0.152 euro.Cash payments to those shareholders who have so requested on Aug. 1.  Full Article

Banco Santander SA partners with CNP
Thursday, 10 Jul 2014 02:31am EDT 

Banco Santander SA:Banco Santander and CNP have reached definitive agreement by which the French insurance company will acquire 51 pct stake in three companies that service Santander's consumer finance unit (SCF) and which are based in Irelan.Under terms of agreement, SCF will distribute on an exclusive basis the whole range of products sold to SCF customers in several countries where it operates, including Germany, Spain and Nordic countries.Agreement, which is subject to trelevant regulatory authorizations, values the insurance companies, which distribute life and non-life products through SCF, at 568 mln euro.Transaction, which is expected to close before the end of the year, will generate net capital gain for Grupo Santander of 250 mln euro, which will be fully used to strengthen the balance sheet.  Full Article

Banco Santander SA agrees to acquire GE Money Bank AB, GE Capital's consumer finance business in Sweden, Denmark and Norway
Monday, 23 Jun 2014 02:33am EDT 

Banco Santander SA:Says it agrees to acquire GE Money Bank AB, GE Capital's consumer finance business in Sweden, Denmark and Norway.Under the terms of the agreement, Banco Santander's consumer finance unit will buy GE Money Bank AB, GE Capital's consumer finance business in Sweden, Norway and Denmark (GE Money Bank).Purchase price of the transaction, expected to close in the second half of 2014, amounts to about 700 mln euros.  Full Article

Banco Santander SA enters into agreement with FINESP Holdings II B.V
Thursday, 19 Jun 2014 04:45am EDT 

Banco Santander SA:Enters into definitive agreement with FINESP Holdings II B.V., an affiliate of Warburg Pincus to create custody business.Under terms of agreement, group which will also include Temasek, a Singapore based investment company, will acquire 50 pct stake in Santander's current custody operations in Spain, Mexico and Brazil.Remaining 50 pct will be owned by Santander.Transaction is expected to close in fourth quarter of 2014.  Full Article

Banco Santander SA subsidiary Santander signs first agreement with Ocean County College
Wednesday, 11 Jun 2014 01:26pm EDT 

Banco Santander SA:Santander Bank, N.A wholly-owned, financially autonomous subsidiary of Banco Santander signs agreement with Ocean County College.Through which its Santander Universities division will provide funding to support programs for low-income Lakewood High School students.  Full Article

Banco Santander SA's Grupo Santander announces Sale of the Edificio Espana building
Thursday, 5 Jun 2014 07:04am EDT 

Banco Santander SA:Grupo Santander hereby announces that it has sold the Edificio España building, located in Madrid, to the company Renville Invest, S.L., an affiliate of Dalian Wanda Group.Says for total amount of 265 mln euros.  Full Article

S&P upgrades ratings on Banco Santander
Wednesday, 4 Jun 2014 08:00pm EDT 

Banco Santander SA:Standard & Poor’s Ratings Services has revised long-term rating on company to BBB+ from BBB.Outlook stable.S&P has revised subordinated debt on company to BBB from BBB- and preferred stock to BB+ from BB.Short-term rating of A-2 is affirmed.  Full Article

Banco Santander to implement Santander Dividendo Eleccion program
Monday, 2 Jun 2014 12:10pm EDT 

Banco Santander SA:Says it is envisaged to implement Santander Dividendo Eleccion program, on dates when first interim dividend is traditionally paid (July / Aug.).Shareholders to have possibility to choose whether to receive cash or new shares on such dates.Execution of capital increase on July 11.Record date for granting of rights on July 14.Commencement of rights trading period; Santander shares start trading ex-coupon on July 15.Last date to request remuneration in cash (sale of rights to Grupo Santander) on July 24.End of trading period of rights, acquisition of rights by Grupo Santander from those shareholders who have requested cash on July 29.Payment of cash to shareholders who have so requested on Aug. 1.Gross price at which Grupo Santander shall commit to purchase rights to be about 0.150 euro per right.  Full Article

REFILE-UPDATE 3-Santander lending drive lifts first-quarter profits

MADRID, April 28 - Santander on Tuesday showed the benefits of a drive to boost lending across its main markets, which helped the bank to produce a 32 percent jump in first-quarter profits.

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