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Santander Holdings USA commences tender offer for senior notes

Santander Holdings USA Inc. commenced a cash tender offer for up to $400 million of outstanding senior notes.

It is offering to buy its 3.450% senior notes, for a hypothetical total consideration of $1,006.71 per $1,000 principal amount, plus interest. The notes mature Aug. 27 and have $244.6 million in principal amount outstanding.

Santander is also offering to buy its 2.700% senior notes, for a hypothetical total consideration of $1,003.30 per $1,000 principal amount, plus interest. Those notes mature May 24, 2019, and have a principal amount outstanding of $1.00 billion.

The hypothetical considerations assume settlement Feb. 16.