Santander Brazil Surrenders 4.41% to Qatari Bondholder

Santander Brazil Surrenders 4.41% to Qatari Bondholder

Brazil Middle East Europe Equity M&A

Spain’s Banco Santander has transferred roughly 4.41% of its Santander Brasil subsidiary to a Qatari government vehicle holding its convertible bonds, exercising an option to covert the notes ahead of schedule as it looks to meet capital requirements. Santander transferred the shares to a third party that would then deliver them to the convertible bond holders, the bank says. The Brazilian unit had transferred to its parent ADRs representing approximately 5.18% of the unit. In October 2010, Sant

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