We advised the issuer on its offering of fixed-rate and floating-rate notes

Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of $1.5 billion aggregate principal amount of 3.892% senior preferred fixed-rate notes due 2024 and $650 million aggregate principal amount of senior preferred floating-rate notes due 2024.

Headquartered in Madrid, Banco Santander is a leading financial institution by market capitalization in the eurozone 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 Pedro J. Bermeo, associates Ernesto Talamás Velázquez, and José Lucena-Rebollo. The tax team included counsel Alon Gurfinkel and associate Kelli A. Rivers. Associate Harrison Perry provided 1940 Act advice. Members of the Davis Polk team are based in the New York, Madrid and London offices.