8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

May 12, 2008

Date of Report (Date of earliest event reported)

Sovereign Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Pennsylvania	1-16581	23-2453088
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

1500 Market Street, Philadelphia, Pennsylvania	19102
(Address of principal executive offices)	(Zip Code)

(267) 256-8601

Registrant’s telephone number, including area code

n/a

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Item 8.01. Other Events.

     On May 12, 2008, Sovereign Bancorp, Inc. (“Sovereign”) issued a press release announcing that it had priced its public common stock offering that was announced earlier that day. Sovereign sold 156,250,000 shares of its common stock, no par value for total net proceeds of $1.25 billion. An additional 23,437,500 shares of common stock have been granted to the underwriters under a 30-day option to cover over-allotments. The offering is subject to customary closing conditions and is expected to close May 16, 2008. The press release is attached hereto as Exhibit 99.1 and is incorporated by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release, dated May 12, 2008, of Sovereign Bancorp, Inc.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SOVEREIGN BANCORP, INC.
Dated: May 13, 2008	By:	/s/ Stacey V. Weikel
		Name:	Stacey V. Weikel
		Title:	Senior Vice President

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release, dated May 12, 2008, of Sovereign Bancorp, Inc.

EX-99.1

Exhibit 99.1

DATE: May 12, 2008	FINANCIAL CONTACTS:
	Kirk Walters	617-346-7346	kwalter1@sovereignbank.com
	Stacey Weikel	610-320-8428	sweikel@sovereignbank.com
	MEDIA CONTACT
	Ed Shultz	610-378-6159	eshultz1@sovereignbank.com

Sovereign Bancorp Successfully Completes $1.25 Billion Common Stock Offering

PHILADELPHIA, PA... Sovereign Bancorp, Inc. (“Sovereign or the Company”) (NYSE: SOV), parent company of Sovereign Bank (“Bank”) announced today that the Company has priced its public offering of 156,250,000 shares of common stock at an offering price of $8.00 per share for net proceeds, after the underwriting discount and estimated offering expenses, of approximately $1.21 billion. The Company has granted the underwriter a 30-day option to purchase up to an additional 23,437,500 shares to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on May 16, 2008. The shares were issued from the Company’s shelf registration statement on file with the Securities and Exchange Commission.

Sovereign intends to use the net proceeds of the offering for general corporate purposes. Lehman Brothers Inc. is acting as the sole book-running manager of the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any shares of common stock, nor will there be any sale of common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Lehman Brothers Inc., c/o Broadridge, Integrated Distribution Services, 1144 Long Island Avenue, Edgewood, NY 11717; fax: 631-254-7140, or email: qiana.smith@broadridge.com.

About Sovereign

Sovereign Bancorp, Inc., (“Sovereign”) (NYSE: SOV), is the parent company of Sovereign Bank, a financial institution with principal markets in the Northeastern United States. Sovereign Bank has 750 community banking offices, over 2,300 ATMs and approximately 12,000 team members. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. For more information on Sovereign Bank, visit <http://www.sovereignbank.com> or call 1-877-SOV-BANK.

Forward-Looking Statements

The information contained in this press release includes forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated in Sovereign’s filings with the Securities and Exchange Commission. This press release should be read in conjunction with the company’s recent SEC filings.

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