Santander $1.5 billion subordinated notes issue

Overview:

• Santander UK Group Holdings has issued $1.5 billion in subordinated notes under its $1 billion EMTN programme.
• The issue consist of $1 billion 4.750% notes due 2025 and $500 million 5.625% subordinated notes due 2045. 
• The notes count as Tier 2 capital for bank regulatory purposes.
• Citigroup Global Markets, Deutsche Bank Securities, Morgan Stanley & Co, Santander Investment Securities and UBS Securities acted as managers.

Sam Duke - Editor