Results of exchange offers 1

RNS Number : 1732W

Banco Santander S.A.

23 July 2009

 

PRESS RELEASE

23 JULY 2009

Santander announces results of exchange offers for certain of the Group's outstanding Euro, Sterling and Yen Tier 1 hybrid securities and Upper Tier 2 securities

On 9 July 2009, Banco Santander, S.A. and Santander Financial Exchanges Limited announced a capital markets transaction to improve the efficiency of the Group's capital structure and strengthen the balance sheet. The transaction comprised offers to exchange Tier 1 Hybrid Securities and Upper Tier 2 securities of Santander and its subsidiaries for new capital instruments.

The exchange offers relating to the Euro, the majority of the Sterling and the Yen denominated securities expired on 22 July 2009. Santander has accepted all securities validly offered for exchange.  As at the expiration date, the aggregate participation rate for the relevant exchange offers was 54% of the outstanding securities. The exchange offers relating to the remaining securities continue and results will be announced following expiration of those exchange offers. 

Contact Details:
Angel Santodomingo (Head of Investor Relations) Ph. [phone]

THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ITALY AND NO OFFER IS BEING MADE TO ANY RESIDENT IN THE UNITED STATES OR ITALY. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION.

Further restrictions apply in relation to Spain, the United Kingdom, Belgium, France, Japan and Switzerland and are described in more detail in the offer materials. 

This document does not constitute an offer to sell or buy or a solicitation of an offer to sell or buy the existing securities and/or the exchange securities, as applicable, and offers of existing securities for exchange in the exchange offer will not be accepted from holders in any circumstances in which such offer or solicitation is unlawful.  

 

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