Banco Santander México Announces The Expiration Of Its Cash Tender Offer

September 27, 2018 / By Ian Hayden Parker

MEXICO CITY, Sept. 27, 2018 /PRNewswire/ — Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (BMV: BSMX; NYSE: BSMX) ("Banco Santander México" or the "Bank") has announced the expiration, as of 5:00 p.m., New York City time, of its previously announced cash tender offer (the "Tender Offer") for any and all of its outstanding 5.95% Tier 2 subordinated preferred capital notes due 2024 (the "2024 Notes").

Approximately U.S.$1,221,907,000 in aggregate principal amount of the 2024 Notes subject to the Tender Offer were validly tendered and not validly withdrawn on or prior to 5:00 p.m., New York City time, on September 26, 2018 (the "Expiration Date"), and an additional U.S.$1,000,000 in aggregate principal amount of the 2024 Notes had been submitted pursuant to Notice of Guaranteed Delivery procedures and remain subject to delivery of the underlying notes, as further described below.

Banco Santander México expects to accept for purchase all of the 2024 Notes validly tendered and not validly withdrawn at or prior to the Expiration Date and expects to make payment for such notes on October 1, 2018 (the "Settlement Date"). Holders of 2024 Notes subject to the Tender Offer who validly tendered and did not validly withdraw their 2024 Notes prior to the Expiration Date will receive the consideration for the 2024 Notes plus accrued and unpaid interest on the principal amount of such 2024 Notes up to, but not including, the Settlement Date.

Payment for the 2024 Notes tendered and accepted for payment pursuant to Notice […]

This story is part of our ‘News from Around the Web’ publication, continue reading the story here: Banco Santander México Announces The Expiration Of Its Cash Tender Offer

MEXICO CITY, Sept. 27, 2018 /PRNewswire/ -- Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo . . .

Follow Us On Google News | Get Our Newsletter

Trending News on PVDN

Mexico City Protests: There is a fine line between anti-gentrification and xenophobia The line between anti-gentrification and racism is clear if you choose to see it: genuine activism targets policy and practice, not nationality or ethnicity. I have lived in Mexico for two decades, and I have never witnessed the level of anti-American sentiment that exists today. All of it is tied to the buzzword "gentrification," a…
Puerto Vallarta needs a new image to create meaningful reasons for travelers to visit Business leaders at Jalisco Tourism Secretariat forums stressed the need for renewing Puerto Vallarta image and diversifying attractions to appeal to national and international markets. Local business leaders and tourism specialists agreed this week that Puerto Vallarta needs a fresh look and a broader range of attractions to compete at home and abroad. In a…
Puerto Vallarta police chase ends in deadly collision in Bahía de Banderas A Puerto Vallarta police chase along Highway 200 ended in a deadly collision in Bahía de Banderas, leaving two people dead. A high-speed chase that began in Puerto Vallarta, Jalisco, and ended in Bahía de Banderas, Nayarit, left at least two people dead and raised new questions about police engagement and road safety in the…
Mexico City Protest on July 5 Challenges Gentrification and Airbnb’s Impact on Housing Residents of Roma and Condesa will gather at Parque México on July 5 to protest gentrification, rising rents, and Airbnb’s effect on local housing. This Saturday, July 5, Mexico City will witness its first organized citizen protest against gentrification—a peaceful but urgent gathering taking place at 3:30 p.m. at the Lindbergh Forum in Parque México,…
Puerto Vallarta braces for torrential rains as Hurricane Flossie gains strength Puerto Vallarta faces a high risk of flooding as Hurricane Flossie intensifies in the Pacific. Torrential rains and overwhelmed drainage systems pose major challenges for the city. Puerto Vallarta, a city wedged between the Sierra Madre mountains and the Pacific Ocean, is no stranger to dramatic weather shifts—but this summer, the skies are testing the…
Protest graffiti and smashed windows mars anti-gentrification rally in Mexico City Residents and activists joined an anti-gentrification rally in Mexico Park, but the anti-gentrification rally Mexico Park turned destructive as masked youths defaced local shops and broke windows. A rally against gentrification held yesterday in Mexico City’s Parque México drew residents from Juárez, Roma, Condesa and Hipódromo alongside local activists. Organizers billed it as the city’s…
Purple Flag Warns Beachgoers after Crocodile at Los Muertos Beach Authorities raised a purple flag after a crocodile at Los Muertos Beach was spotted swimming near shore, advising visitors to avoid entering the water until safety checks ended. Local authorities recorded a crocodile swimming in the vicinity of Los Muertos Beach, one of Puerto Vallarta’s busiest tourist spots. Lifeguards spotted the reptile in shallow water…
Gentrification in Mexico City is not the reason for the high cost of housing City housing shortage, not gentrification, drives prices skyward as planning lags behind demand and foreigner influence remains minimal. High real estate costs in Mexico City stem from a deep and persistent housing shortage—exacerbated by land constraints, tangled regulations and speculative investment—rather than by the presence of foreign residents. Despite headlines blaming “gentrification,” foreign-born residents make…
Puerto Vallarta retains four Blue Flag Beaches, down from eight Puerto Vallarta will enter the 2025–2026 season with four international Blue Flag distinctions in Puerto Vallarta, even after tourism-driven environmental damage cost it half of its previous honors. The Foundation for Environmental Education (FEE) in Mexico confirmed that three resort flags will be revalidated at Marriott Puerto Vallarta Resort & Spa, The Westin Resort &…
Sargassum in Quintana Roo Hits 76 Beaches from Cancun to Tulum, Only 24 Clean Beaches Sargassum in Quintana Roo has reached moderate to excessive levels on 76 beaches—including Cancun—as cleanup crews race to protect tourism and coastal ecosystems. A recent survey from the Quintana Roo Sargassum Monitoring Network and the Sargassum Citizen Observatory shows 76 out of 100 beaches on the state’s Caribbean coast now face moderate to excessive seaweed…