Banco Santander (SAN) is looking to issue a significant risk transfer, or SRT, on a loan portfolio of more than 1 billion British pounds ($1.36 billion), Bloomberg reported Monday, citing sources familiar with the matter.
The loans were issued by Santander's UK division to small and mid-sized companies, the people said, adding that final terms of the transaction remain subject to discussions with investors.
The potential SRT is being considered as Banco Santander pursues merger and acquisition activity, including its planned $12 billion purchase of Webster Financial (WBS), according to the news outlet.
Banco Santander did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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