By Cristal Cody
Tupelo, Miss., Dec. 9 – Banco Santander SA priced a €3.15 billion collateralized debt obligation transaction, according to market sources.
FTA Pymes Santander 15 sold €2.4 billion of series A notes at Euribor plus 30 basis points, €600 million of series B notes at Euribor plus 50 bps and €150 million of series C notes at Euribor plus 65 bps.
The notes are due April 2051.
Banco Santander was the arranger.
The CDO is secured by a portfolio of secured loans and credit lines originated by Banco Santander to corporates, small and medium-sized enterprises and self-employed individuals in Spain.
The global bank is based in Madrid, Spain.
| Issuer: | FTA Pymes Santander 15
|
| Amount: | €3.15 billion
|
| Maturity: | April 2051
|
| Securities: | Notes
|
| Structure: | SME CDO
|
| Placement agent: | Banco Santander SA
|
| Manager: | Banco Santander SA
|
| Pricing date: | Dec. 5
|
|
|
| Series A notes
|
| Amount: | €2.4 billion
|
| Coupon: | Euribor plus 30 bps
|
| Ratings: | Moody’s: A2 expected
|
| DBRS: A
|
|
|
| Series B notes
|
| Amount: | €600 million
|
| Coupon: | Euribor plus 50 bps
|
| Ratings: | Moody’s: Caa3 expected
|
| DBRS: CCC
|
|
|
| Series C notes
|
| Amount: | €150 million
|
| Coupon: | Euribor plus 65 bps
|
| Ratings: | Moody’s: Ca expected
|
| DBRS: C
|
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