Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 09-06-2015 | Practice Area: | Debt Capital Markets |
| Deal Title: | Santander UK Issuance of Additional Tier 1 Securities (Managers) | Industry: | Banks |
| Description: |
Allen and Overy advised the Managers and Trustee with respect to the issuance by Santander UK Group Holdings plc of GBP750 million Fixed Rate Reset Perpetual Additional Tier 1 Capital Securities. The Securities were the Santander UK group's first public issuance of Additional Tier 1 instruments and the first public issuance of securities by Santander UK Group Holdings plc, the newly established holding company of Santander UK.
The principal amount of the Securities would be automatically be written down to zero if at any time Santander UK Group Holdings plc determined that its Common Equity Tier 1 ratio, calculated on a consolidated basis, was less than 7%.
Santander Global Banking and Markets and UBS Investment Bank acted as structuring advisers and managers and Barclays, BofA Merrill Lynch and Morgan Stanley acted as managers.
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| Financial Center: | London | Value: | 1000.01-5000.00 |
| Advised Party: | Managers:: | Law Firm | Allen & Overy |
| Issuer Jurisdiction | United Kingdom | Listing Jurisdiction | United Kingdom |
| Classification: |
Capital Securities Additional Tier 1 Write-Down Loss Absorption |
Lawyer | Jonathan Mellor |
