Davis Polk & Wardwell LLP advised Banco Santander, S.A. in connection with its cash tender offer for any and all of Abbey National plc's US$978 million aggregate principal amount of outstanding 7.95% notes due 2029 and Santander Central Hispano Issuances Limited's US$200 million aggregate principal amount of outstanding 7.25% notes due 2015.

Headquartered in Madrid, Banco Santander, S.A. is the leading financial institution by market capitalization in the euro zone and operates globally through a network of subsidiaries across Spain, the United Kingdom, the United States and Brazil, as well as other European and Latin American countries.

The Davis Polk corporate team included partner Nicholas A. Kronfeld and associates Y. Jung Choi and Gregory C. Scott (not yet admitted) of the New York office, and associate Jake S. Tyshow of the Madrid office. Partner Samuel Dimon and associate Devasish Majumdar of the New York office provided tax advice.