Banco Santander $3.5 billion notes offering
We advised Banco Santander on its offering of fixed-rate notes
Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of $1.5 billion aggregate principal amount of 5.588% senior preferred fixed-rate notes due 2028 and $2 billion aggregate principal amount of 6.921% Tier 2 subordinated fixed-rate notes due 2033.
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 and associates Jose Lucena-Rebollo and Michael Schuster. The tax team included counsel Alon Gurfinkel and associate Kelli A. Rivers. Counsel Leon E. Salkin provided 1940 Act advice. Members of the Davis Polk team are based in the New York, Madrid and London offices.