BME:SANBanks
Santander’s $1.5b AT1 Issue Reframes Capital Structure And Resilience Story
Banco Santander has issued $1.5b of long-dated Additional Tier 1 (AT1) bonds.
The new AT1 instruments are callable after 10 years, instead of the more typical 5-year structure.
The issue responds to strong demand for higher yielding bank securities and Santander's funding plans.
For investors watching BME:SAN, this capital move sits alongside a share price of €10.728 and very large multi year returns, including 55.7% over the past year. The issuance helps explain how Santander is...