Santander unit taps international markets with US$200mn notes issue

Sunday, May 29, 2011

Santander Brasil (NYSE: BSBR) has tapped the international market with a senior notes issue of US$200mn.

The unsecured debt will mature in 2016 and was rated BBB- by ratings agency Standard & Poor's.

The bank will use the proceeds from the issue for general business purposes.

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Santander Brasil is the third largest private bank in Brazil and a unit of Spain's Santander (NYSE: STD).