Santander : Call me maybe. ‘Buy’ recommendations broadly maintained with call expectations for AT1 PNC19 in coming quarters
No refinancing (yet) of AT1 PNC19; probability of call at first call dates (much) reduced - >Santander has until 12 February to announce the call at first call date of its EUR AT1 6.25% PNC19. The deadline for the announcement of the call of the AT1 USD 6.375% PNC19 is 19 April.As Santander's capital position is broadly just acceptable and specifically its AT1 capital bucket just meets the 1.5% requirement, the bank would have to replace the bonds to maintain i...Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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