Santander Holdings USA Inc. announced the early participation results of its cash tender offer to purchase up to $400 million of outstanding senior notes.

Santander Holdings expects $63.2 million aggregate principal amount to be purchased of its 3.450% senior notes due 2018. This represents 25.86% of the outstanding tendered amount as of the early participation date.

The Boston-based company also expects a $336.8 million aggregate principal amount to be purchased of its 2.700% senior notes due 2019. This represents 73.32% of the outstanding tendered amount as of the early participation date.

The early participation date for the offer was 5 p.m. ET on Feb. 14 and will be followed by the early payment date for the offer that is anticipated to be on or about Feb. 16.

Banco Santander SA is the ultimate parent of Santander Holdings.