Santander gets 4 percent acceptance in bond buyback offer

Bondholders have agreed to buy back around 4 percent of nearly 9.4 billion euros ($12 billion) of subordinated bonds issued by Spanish bank Santander in an offer aimed at boosting the bank's solvency ratios. The level of buybacks was in line with the bank's expectations, a Santander spokeswoman said.
The buyback prices for the euro and sterling bonds ranged from 60 to 103 percent of face value, while the bank had offered to pay 102 percent for the dollar issue. Santander said it had received acceptance offers for 140 million euros ($181 million), 179 million pounds ($267 million) and $27 million.