Santander UK has repurchased bonds worth 2.375bn euros from holding company Banco Santander, Spanish daily Expansion reports.
Of the securities purchased by the UK subsidiary, almost half belonged to other affiliates. As such, Santander UK effectively injected €1bn into its parent company.
The goal of the bond repurchases was to improve capital ratios and provide investors with liquidity at current market prices. The purchases covered issuances of different currency-denominated securities ($1.5bn, £800m and €250m) maturing between 2017 and 2031.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
By 10:25, shares of Banco Santander were up 1.62% to €4.585.
SC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
