Sovereign BankBoston-based Sovereign Bank, a subsidiary of Spanish banking giant Banco Santander, has taken in almost $235 million on the sale of all its validly tendered 5.125 percent subordinated notes.

The notes, due March 15, 2013, fetched exactly $234,949,000, according to a statement.

The tender offer expired at 5:00 p.m. yesterday, Dec. 12. Payment for the notes purchased pursuant to the tender offer is expected to be made today, the bank said.

J.P. Morgan Securities LLC acted as dealer manager for the tender offer and D.F. King & Co. Inc. served as the tender agent and information agent for the tender offer. Wachtell, Lipton, Rosen & Katz acted as legal advisor to Sovereign.

Sovereign Raises $235M With Notes Sale

by Banker & Tradesman time to read: <1 min
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