Santander Bond Offer to Former Popular Investors Gains 78% Acceptance Rate

By Alberto DelclauxFeaturesDow Jones Newswires

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.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

December 15, 2017 06:07 ET (11:07 GMT)