STOCKHOLDER'S EQUITY

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY

In February 2014, the Company issued 7 million shares of common stock to Santander in exchange for cash in the amount of $1.75 billion. Also in February 2014, the Company raised $750.0 million of capital by issuing 3 million shares of common stock to Santander in exchange for canceling debt of an equivalent amount.

On May 28, 2014, the Company issued 84,000 shares of its common stock to Santander, in exchange for cash in the amount of $21.0 million.

Following these transactions and as of June 30, 2014, the Company had 530,391,043 shares of common stock outstanding.