Santander Holdings USA Inc. commenced two separate cash tender offers for any and all of its outstanding 4.450% senior notes due 2021 and 3.700% senior notes due 2022.
The outstanding principal amount is $1 billion for the 2021 notes and $1.44 billion for the 2022 notes. The 2021 notes mature Aug. 31, 2021, and the 2022 notes mature Sept. 15, 2022.
The offers will expire at 5 p.m. ET on Oct. 1.
The maximum aggregate amount of cash the company will use to purchase all validly tendered notes in the tender offers is $200 million unless waived by it.
Concurrently with the tender offers, the company also commenced an offer to exchange any and all of its outstanding 4.450% notes due 2021 and 3.700% notes due 2022 for new notes due 2026.
