BCDRF Banco Santander SA (PK)

 

 

FORM 6-K

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Report of Foreign Issuer

 

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

 

For the month of September, 2024

 

Commission File Number: 001-12518

 

Banco Santander, S.A.

(Exact name of registrant as specified in its charter)

 

Ciudad Grupo Santander 

28660 Boadilla del Monte (Madrid) Spain 

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F

X

Form 40-F

 

 

Banco Santander, S.A.

TABLE OF CONTENTS

 

Item
1	Report of Other Relevant Information dated September 30, 2024

Item 1

 

 

Banco Santander, S.A., (“Santander” or the “Offeror”) in accordance with the provisions of the securities market legislation, communicates the following:

 

OTHER RELEVANT INFORMATION

 

Further to the communication made on 23 September 2024 (registered under number 2389) regarding the invitation by Santander to holders of its outstanding €1,500,000,000 1.375 per cent. Senior Non-Preferred Instruments due January 2026 (ISIN: XS2168647357) (the "EUR SNP Notes") and €1,750,000,000 3.750 per cent. Fixed Rate Senior Preferred Instruments due January 2026 (ISIN: XS2575952424) (the "EUR SP Notes" and, together with the EUR SNP Notes, the "Notes" and each a “Series”) to tender any and all of such Notes for purchase by the Offeror for cash, in accordance with the terms of the tender offer memorandum dated 23 September 2024 (the "Tender Offer Memorandum") (the "Offers"), the Offeror now announces the results of the Offers.

 

Capitalised terms used but not otherwise defined in this announcement shall have the meaning given to them in the Tender Offer Memorandum.

 

The Expiration Time for the Offers was 5.00 p.m. (CET) on 27 September 2024.

 

The Offeror hereby announces that it will accept for purchase in accordance with the terms and subject to the conditions set out in the Tender Offer Memorandum and at the relevant Purchase Price: (i) €502,700,000 in aggregate principal amount of the EUR SNP Notes ; and (ii) €713,700,000 in aggregate principal amount of the EUR SP Notes, as set out in the table below.

 

Description of Notes	ISIN	Maturity Date	Aggregate principal amount accepted	Reference Benchmark	Reference Benchmark Yield	Purchase Spread	Purchase Yield	Purchase Price (expressed as a percentage)	Accrued Interest Amount
€1,500,000,000 1.375 per cent. Senior Non-Preferred Instruments due January 2026	XS2168647357	5 January 2026	€502,700,000	EUR SNP Interpolated Mid-Swap Rate	2.616%	+15 bps.	2.766%	98.297%	€5,117,988.70
€1,750,000,000 3.750 per cent. Fixed Rate Senior Preferred Instruments due January 2026	XS2575952424	16 January 2026	€713,700,000	EUR SP Interpolated Mid-Swap Rate	2.605%	+5 bps.	2.655%	101.360%	€19,012,468.41

  

Notes purchased by the Offeror pursuant to the Offer will be cancelled by the Offeror and will not be re-issued or re-sold. Notes which have not been validly submitted or validly submitted but not accepted for purchase pursuant to the Offer will remain outstanding. Following the Settlement Date, there will be an outstanding nominal amount of (i) €997,300,000 of EUR SNP Notes and (ii) €1,036,300,000 of EUR SP Notes.

 

Payment of the relevant Tender Consideration in respect of the Notes accepted for purchase by the Offeror will occur on the Settlement Date, which is expected to be 2 October 2024.

 

Any requests for information in relation to the Offers should be directed to the Dealer Managers or the Tender Agent whose contact details are listed below.

 

SOLE DEALER MANAGER

Santander Corporate and Investment Banking Ciudad Grupo Santander Avenida de Cantabria s/n 28660 Madrid, Spain Attn: Liability Management Email: liabilitymanagement@gruposantander.com

THE TENDER AGENT Kroll Issuer Services Limited The Shard 32 London Bridge Street London SE1 9SG United Kingdom Tel: +44 20 7704 0880 Attn: Owen Morris Email: santander@is.kroll.com Website:  https://deals.is.kroll.com/santander

 

Boadilla del Monte (Madrid), 30 September 2024

 

   

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

 

DISCLAIMER

 

This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Offer. If any Qualifying Holder is in any doubt as to the contents of this announcement, the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial, legal, regulatory and tax advice, including in respect of any tax consequences, immediately from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser.

 

The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offeror, the Sole Dealer Manager and the Tender Agent to inform themselves about, and to observe, any such restrictions.

 

SIGNATURE

 

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.
Date:	September 30, 2024		By:	/s/ Pedro de Mingo Kaminouchi
				Name:	Pedro de Mingo Kaminouchi
				Title:	Head of Regulatory Compliance

 

 

 

 

 

 

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