Spain's Banco Santander SA (SAN.MC) said Friday that its bond offer to compensate some former Banco Popular investors achieved an acceptance rate of 78%.
Santander acquired the financially troubled Popular in June. It offered bonds to Popular retail clients who had participated in a capital raise last year, as well as certain bond issues, and lost their money.
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The nominal value of the bonds issued by Santander would be equivalent to their investments at the time of the takeover--with some upper limits.
Santander said the value of the bonds accepted amounted to 764 million euros ($902.5 million), representing 77.88% of all bonds offered. The number of investors who accepted the offer was not disclosed.
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(END) Dow Jones Newswires
December 15, 2017 06:07 ET (11:07 GMT)