Press Release

AIAF admits Banco Santander's new EUR 5 billion EMTN Structured Bond Programme

2 January, 2024

BME's fixed income market, AIAF, admitted to trading a new EUR 5 billion Euro Medium Term Note (EMTN) programme of Banco Santander for the issuance of Structured Bonds. Through this new rolling programme, Banco Santander will be able to launch over the next 12 months different tranches of Senior Preferred or Senior Non-Preferred bonds that will have flexible structures, with fixed or variable yields, linked to money market indices or other benchmarks, such as swap rates, inflation indices, exchange rates, etc., and which, subject to the terms and conditions of the new programme, will be issued in the form of structured bonds, and which, subject to the conditions set out in banking regulations, will have any maturity and be denominated in different currencies, such as Euro, Dollar or any other currency agreed by the issuer and the investors from time to time.

The Bank of New York Mellon, London Branch will act as the principal Paying Agent for the issues to be made under the programme. Allen & Overy, Madrid and London offices, have provided legal advice to the Issuer in relation to Spanish and UK law.

Banco Santander has long-term ratings of A-, stable outlook, by Fitch Ratings, A2, stable, by Moody's, A+, stable, by Standard & Poors, A High, stable, by DBRS Morningstar, AA-stable, by Scope Ratings and A+, stable, by GBB-Rating.

"The issue prospectus has been registered with the CNMV and for the admission to trading of the various bond issues the AIAF Market will apply the new verification and admission scheme provided for in the Securities Markets and Investment Services Act which came into force in September. This regulatory change allows us to guarantee fixed income issuers agile, efficient and competitive procedures and deadlines that meet their needs," said Gonzalo Gómez Retuerto, CEO of BME Renta Fija.

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