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Santander Holdings USA closes private notes offering

Boston-based Santander Holdings USA Inc. completed its previously announced private placement of $1.00 billion of 3.700% senior unsecured notes due 2022.

The company issued the notes under its agreement with Deutsche Bank Trust Company Americas as trustee.

The notes will mature March 28, 2022, and will accrue interest at 3.700% per annum, payable semiannually in arrears on March 28 and Sept. 28, starting Sept. 28, 2022.

Santander Holdings plans to use the net proceeds for general corporate purposes.

Santander Holdings is a unit of Banco Santander SA.