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Santander Río expands negotiable bonds program to $1.5B

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Santander Río expands negotiable bonds program to $1.5B

Banco Santander Río SA said its shareholders have approved the expansion of the bank's global negotiable bonds program to a maximum amount of $1.5 billion, or its equivalent in other currencies, from $500 million.

The program has also been modified to allow for the issuance of class B bonds convertible into shares, the bank said.