Local News & NorthwestSeptember 26, 2024
NEW YORK--(BUSINESS WIRE)--Sep 26, 2024--
AP News, Associated Press

NEW YORK--(BUSINESS WIRE)--Sep 26, 2024--

BlackRock (NYSE: BLK) and Santander today announced the signing of a memorandum of understanding (MoU) by which funds and accounts managed by BlackRock will invest up to US$1 billion per year in select project finance, energy finance, and infrastructure debt investment opportunities with Santander through structured transaction formats.

The agreement follows an initial transaction whereby funds and accounts managed by BlackRock agreed to provide financing on a US$600 million diversified portfolio of infrastructure credit from Santander.

“We are pleased to expand our longstanding relationship with Santander through this agreement, which will provide long-term, flexible capital on a recurring basis to support the growth of its project finance franchise. At the same time, this agreement will provide further access to attractive, differentiated investment opportunities for our clients now and over the long term,” said Gary Shedlin, Vice Chairman, BlackRock.

“This framework agreement with BlackRock will allow us to continue to proactively rotate our assets, further strengthening our financial position and allowing us to generate capital for additional profitable growth. We look forward to working with BlackRock through this expanded partnership,” said Jose Garcia Cantera, Chief Financial Officer, Santander.

BlackRock’s US$86 billion private debt franchise provides differentiated, flexible and scalable financing solutions to a broad network of global financial institutions and corporate relationships. The firm has built one of the market’s leading infrastructure debt franchises, sourcing, structuring and managing client assets with the potential for income generation.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

Risk Warnings

Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time and depend on personal individual circumstances.

Important Information

This material is for distribution to Professional Clients (as defined by the Financial Conduct Authority or MiFID Rules) only and should not be relied upon by any other persons.

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Any research in this document has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in the BlackRock Group or any part thereof and no assurances are made as to their accuracy. This document is for information purposes only and does not constitute an offer or invitation to anyone to invest in any BlackRock funds and has not been prepared in connection with any such offer. If you are an intermediary or third-party distributor, you must only disseminate this material to other Professional Investors as permitted in the above specified jurisdictions and in accordance with applicable laws and regulations. THE INFORMATION CONTAINED HEREIN, TOGETHER WITH THE PERFORMANCE RESULTS PRESENTED, IS PROPRIETARY IN NATURE AND HAS BEEN PROVIDED TO YOU ON A CONFIDENTIAL BASIS, AND MAY NOT BE REPRODUCED, COPIED OR DISTRIBUTED WITHOUT THE PRIOR CONSENT OF BLACKROCK. © 2024 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, and iSHARES are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240924269881/en/

CONTACT: Christopher Beattie

+1 646 231-8518

christopher.beattie@blackrock.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCE CONSULTING BANKING PROFESSIONAL SERVICES ASSET MANAGEMENT

SOURCE: BlackRock

Copyright Business Wire 2024.

PUB: 09/26/2024 07:00 AM/DISC: 09/26/2024 07:00 AM

http://www.businesswire.com/news/home/20240924269881/en

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