MADRID Shares in Spains Banco Santander, the eurozones largest bank by market value, tumbled after the bank raised $8.9 billion in a share sale. Santanders shares lost 14 percent as their trading resumed in Madrid on Friday after being suspended Thursday following announcement of the capital increase. The capital increase move comes about four months after Ana Botin took over the bank following the death of her father, former chairman Emilio Botin.
4. Salem Harbor secures financing for power plant
The developer of a natural gas-fired power plant at the site of the decommissioned coal plant at Salem Harbor said Friday that it secured financing to finish the project. Footprint Power LLC, the New Jersey-based company that bought the Salem Harbor coal plant in 2012 and shut it down last year, said it had secured investments from a pair of infrastructural finance companies and gave a final green light to the builder of the new gas-powered generator. Footprint also obtained $730 million in credit commitments from a group of lenders. Footprint said Highstar Capital LP, a division of Oaktree Capital Management LP, purchased 87.5 percent of the available equity in the project, and Toyota Tsusho Corp., a Japanese industrial conglomerate affiliated with the automaker, purchased 12.5 percent. The main lenders were MUFG Union Bank, GE Energy Financial Services, and BNP Paribas.
5. SEC charges Framingham man in $16m fraud scheme