Santander UK injects one billion euros into holding company
Santander UK has repurchased bonds worth 2.375bn euros from holding company Banco Santander, Spanish daily Expansion reports.
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.
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By 10:25, shares of Banco Santander were up 1.62% to €4.585.
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