MADRID: Banco Santander, S.A. said Wednesday it has begun a cash tender offer to purchase up to $850 million of one series of its outstanding U.S. dollar-denominated Additional Tier 1 (AT1) securities. The offer covers the bank’s 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities, with a principal amount outstanding of $1 billion. The securities carry…
BARCELONA: Banco Sabadell’s board agreed Tuesday to propose the sale of its British subsidiary, TSB, to Banco Santander for £2.9 billion (€3.4 billion) in cash, with the deal expected to close in the first quarter of 2026. The Spanish bank said it will recommend an extraordinary cash dividend of €0.50 per share, totaling about €2.5…
Banco Santander has entered into an agreement to sell its 30.5% stake in CACEIS to Crédit Agricole S.A. The transaction will enable Crédit Agricole S.A. to gain full control of CACEIS, a prominent entity in the depositary, custody, and related asset servicing business. This deal aligns with Santander’s strategy to proactively allocate capital and create shareholder…