Boston-based Santander Holdings USA Inc. on March 7 completed its exchange offer, pursuant to which the bank accepted for exchange approximately $3.5 billion of senior debt.
Specifically, the bank accepted for exchange approximately $1.44 billion of its outstanding 3.700% senior notes due 2022, approximately $999.3 million of its outstanding 3.400% senior notes due 2023, and approximately $1.05 billion of its outstanding 4.400% senior notes due 2027.
In connection with the exchange offer, the bank entered into a 16th supplemental indenture with Deutsche Bank Trust Co. Americas as trustee.
