9th Jul 2009 14:17
PRESS RELEASE
9 JULY 2009
Santander announces exchange offers for Santander Group capital securities
Banco Santander, S.A. announced today that it and its wholly-owned subsidiary Santander Financial Exchanges Limited intend to make exchange offers relating to 30 capital securities issued by Santander and its subsidiaries with a total notional amount of approximately €9.1bn, for new capital securities, to be issued in line with current market standards and regulatory requirements.
The purpose of the exchange offers is to improve the efficiency of the Group's capital structure and strengthen the balance sheet.
The proposed transactions may result in a capital gain for the Group, which will not be included in the ordinary profit for the year, the extent of which will depend on the final take-up of each of the individual exchange offers.
The Santander Group's annual funding costs will not increase following the exchange.
Contact Details:Angel Santodomingo (Head of Investor Relations) Ph. +34 912 890 921
THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION.
Any public offering to be made in the United States will be made by means of a prospectus that will be available from the Group and that will contain or incorporate by reference detailed information about the Group and financial statements. The Group intends to register some of the offers in the United States.
This document does not constitute an offer to sell or buy or a solicitation of an offer to sell or buy the existing securities and/or the exchange securities, as applicable, and offers of existing securities for exchange in the exchange offer will not be accepted from holders in any circumstances in which such offer or solicitation is unlawful.
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Banco Santander