Gruffly bear
10 Jul 2017
Re: Good deal. Who is your provider and what docs did they supply?
bamboozled
10 Jul 2017
Re: Good deal. I received a comm regarding the capital increase action from my provider last week. The deadline(for me) is 13th July,I have fully subscribed and asked for an excess.Suggest you contact your provider if you have'nt received the message.
Gruffly bear
10 Jul 2017
Re: Good deal. That is what The Times are reporting. Not enough time under Spanish law to allow UK holders to join in so they will sell our rights on the market for us. I think this is very unfair on UK holders.
Ytong
10 Jul 2017
Re: Good deal. I read uk shareholders are excluded.
Rosycheeks
08 Jul 2017
Good deal. With the euro / pound exchange being so close this is the first good thing to have come out of Brexit. The euro now buys more pounds.
lifetime guarantee
04 Jul 2017
Re: Rights Issue Details That's an 18% discount! I'll go for that.
Market Guru
04 Jul 2017
Rights Issue Details Ana Botin announced the details relating to the forthcoming rights issue earlier this morning; details as below with supporting comments from her below.......“The acquisition of Banco Popular is an exciting step forward for our bank in two of our core markets. Together our business will become the number one bank in Spain in both lending and deposits, and one of the leading banks in Portugal, accelerating our strategy in both countries. It also gives stability to the Spanish economy and to Banco Popular’s customers and we are confident we will deliver excellent results for Banco Santander and its shareholders, with an expected return on investment of 13-14% in 2020.To support the transaction, we confirmed yesterday details of the €7,072 million rights issue we announced at the time of the acquisition.The key details are as follows:Santander will issue 1,458 million new shares of the same class and series as those already outstanding, providing existing shareholders preferential subscription rights.Santander shareholders will be able to subscribe 1 new share for every 10 shares they hold for a price of €4.85 per share, a discount of 17.75% when compared to the theoretical ex-rights price based on the closing price at 3 July 2017. Shareholders who wish to exercise their right to subscribe shares may do so for a 15-day period, expected to be from 6 July to 20 July 2017.The new shares are expected to begin trading on 31 July 2017 with full dividend rights from their issuance date, expected to be 27 July 2017. The board reported on 7 April this year that it intends to pay a full-year dividend for 2017 of €0.22 per share. The first interim dividend for 2017 of €0.06 per share will be paid on 4 August 2017.The net impact of the Banco Popular acquisition and rights issue on Santander’s CET1 capital ratio will be neutral.To ensure shareholders have a clear view of Banco Santander’s financial performance, the Bank published yesterday details of its estimated performance for the six months ending 30 June 2017. José Antonio will present detailed second quarter results on 28 July 2017.We expect to post an attributable profit for the first half of 2017 of approximately €3,600 million, an increase of 24% when compared to the same period last year. Underlying profit (e.g. excluding exceptional items recorded in the first half of 2016 and the impact of currency movements) is expected to increase by 11%.Banco Popular and its subsidiaries are consolidated in the accounts of the Santander Group as of their acquisition on 7 June 2017. After the integration of Banco Popular, Banco Santander’s net attributable profit, as of June 30 2017, will vary only minimally relative to the estimated €3.6 billion that would have resulted had the acquisition not taken place.These are excellent results and a tribute to your hard work and have once again been delivered in the right way. This performance and delivery on our promises is what gives us the strength and capability to take on this new challenge. As always, execution of the integration will determine its success, and we are confident we have the teams to deliver, led by Rami Aboukhair as country head for Spain, with the support of Rodrigo and Jose Antonio.We are confident that the Banco Popular acquisition will enhance all key performance indicators in 2019 and beyond and, what is most important, it will allow us to help more people and more businesses prosper.”
Market Guru
30 Jun 2017
Re: Another HBOS? My view is that details on the rights issue will form part of the half yearly results announcement on 27th July 2017.May be wrong; but it would appear to be in tune with how they've conducted these types of transactions in the recent past.Regards, M.G.
Hardboy
27 Jun 2017
Re: Another HBOS? But when are we likely to hear the details?
devonplay
27 Jun 2017
Re: Another HBOS? Thanks MG.D.
Market Guru
27 Jun 2017
Re: Another HBOS? Yes, it's a rights issue for approximately 7 Billion Euros.Regards, M.G.
devonplay
27 Jun 2017
Re: Another HBOS? Do you mean Rights Issue. Isn't that whats planned or have I missed something?DL
Hardboy
26 Jun 2017
Re: Another HBOS? Has anyone got any idea as to when the placement will be announced?
Market Guru
08 Jun 2017
Re: Another HBOS? The ECB have today advised that Eurozone economic growth is forecast and this appears to be one of the key drivers for BNC senior management to take a punt on acquiring Banco Popular.My view is that if they manage to integrate Popular's customer onto the BNC global platform seamlessly by or before 2020, sustainable Eurozone growth should help 'ward off' too much in the way of losses with non performing loans.In addition, Banco Popular is an excellent strategic fit for Santander Spain and Santander Totta at a positive stage in the economic cycle. It is the best time to bet strongly on the region where Santander's roots are and position themselves to better serve customers and deliver profitable growth.It will significantly enhance their SME business - a key strategic priority for the Group and a business with a high growth potential in which they can benefit from the great experience and knowledge of Banco Popular.Finally and most importantly, it would appear to be a very profitable transaction with a return on investment of 13%-14% in 2020 so it meets their strategic and financial investment criteria. Whatsmore, they have reiterated their commitment to all commercial and financial targets in 2017/2018, including commitment to have a CET1 capital levels above 11% by 2018, and enhancing from that point in 2019.The market response today would appear to align with the relatively 'bullish' and positive stance set out for making the acquisition, albeit as a test case for the Eurozone's Single Resolution Board.As always, my own views here, so please do your own research.M.G.
picstloup
07 Jun 2017
Another HBOS? Market doesn't seem to like the acquisition of Banco Popular. They're going to have to raise 7€billion (?rights issue) and will acquire debts of 37€bn in dodgy real estate loans.Slightly regret not getting out whilst I was (a bit) ahead, as this looks to me as if it could do to Santander what being forced by G Brown to buy HBOS did for Lloyd's. But Santander claims that Popular's strong SME exposure will pay off as Spain's recovery continues.
