Santander Bond Offer to Former Popular Investors Gains 78% Acceptance Rate
December 15 2017 - 6:22AM
Dow Jones News
By Alberto Delclaux
Spain's Banco Santander SA (SAN.MC) said Friday that its bond
offer to compensate some former Banco Popular investors achieved an
acceptance rate of 78%.
Santander acquired the financially troubled Popular in June. It
offered bonds to Popular retail clients who had participated in a
capital raise last year, as well as certain bond issues, and lost
their money.
The nominal value of the bonds issued by Santander would be
equivalent to their investments at the time of the takeover--with
some upper limits.
Santander said the value of the bonds accepted amounted to 764
million euros ($902.5 million), representing 77.88% of all bonds
offered. The number of investors who accepted the offer was not
disclosed.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
December 15, 2017 06:07 ET (11:07 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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