Santander Issues $1.5B in Perpetual Preferred Tier 1 Securities
Ticker: BCDRF · Form: 6-K · Filed: Aug 1, 2024 · CIK: 891478
| Field | Detail |
|---|---|
| Company | Banco Santander, S.A. (BCDRF) |
| Form Type | 6-K |
| Filed Date | Aug 1, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $1,500,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: capital-raise, preferred-stock, tier-1-capital
TL;DR
Santander just dropped $1.5B in new preferred stock, boosting their capital.
AI Summary
Banco Santander, S.A. announced on August 1, 2024, the issuance of $1,500,000,000 in 8.000% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities. This filing is a Report of Foreign Private Issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.
Why It Matters
This issuance impacts Banco Santander's capital structure and regulatory ratios, potentially affecting its financial stability and ability to lend.
Risk Assessment
Risk Level: low — This is a standard capital markets filing for a large, established financial institution.
Key Numbers
- $1.5B — Securities Issued (Amount of capital raised through preferred securities)
- 8.000% — Coupon Rate (Annual interest rate on the issued securities)
Key Players & Entities
- Banco Santander, S.A. (company) — Issuer of securities
- $1,500,000,000 (dollar_amount) — Aggregate liquidation preference of securities issued
- 8.000% (dollar_amount) — Interest rate of the securities
- August 1, 2024 (date) — Date of securities issuance announcement
FAQ
What is the purpose of issuing these Perpetual Preferred Tier 1 Securities?
The filing does not explicitly state the purpose, but such issuances are typically to strengthen regulatory capital ratios and support business growth.
What are the key features of these securities?
They are Non-Step-Up, Non-Cumulative, Contingent Convertible Perpetual Preferred Tier 1 Securities with an 8.000% interest rate.
When was this issuance announced?
The announcement was made on August 1, 2024.
What is the aggregate liquidation preference of the securities?
The aggregate liquidation preference is $1,500,000,000.
Is Banco Santander required to file annual reports on Form 20-F?
Yes, the filing indicates that the registrant files annual reports under cover of Form 20-F.
Filing Stats: 339 words · 1 min read · ~1 pages · Grade level 11.1 · Accepted 2024-08-01 11:14:57
Key Financial Figures
- $1,500,000,000 — he issuance by Banco Santander, S.A. of $1,500,000,000 aggregate liquidation preference of 8.0
Filing Documents
- d814881d6k.htm (6-K) — 12KB
- d814881dex11.htm (EX-1.1) — 247KB
- d814881dex41.htm (EX-4.1) — 141KB
- d814881dex51.htm (EX-5.1) — 45KB
- d814881dex52.htm (EX-5.2) — 12KB
- g814881dsp050.jpg (GRAPHIC) — 3KB
- g814881g0730125150547.jpg (GRAPHIC) — 5KB
- g814881g0731012249444.jpg (GRAPHIC) — 2KB
- 0001193125-24-190988.txt ( ) — 472KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BANCO SANTANDER, S.A. (Registrant) Date: August 1, 2024 By: /s/ José Antonio Soler Name: José Antonio Soler Title: Authorized Representative