Banco Santander $3.75 billion senior preferred notes
We advised Banco Santander on its investment-grade debt offering
Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of $1 billion aggregate principal amount of 6.527% senior preferred callable fixed-to-fixed-rate notes due 2027, $1.25 billion aggregate principal amount of 6.607% senior preferred fixed-rate notes due 2028 and $1.5 billion aggregate principal amount of 6.938% senior preferred 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 associate Jose Lucena-Rebollo. The tax team included counsel Alon Gurfinkel and associates Kelli A. Rivers and Valentin Van de Walle. Counsel Sarah E. Kim and associate Victoria Glass provided 1940 Act advice. Members of the Davis Polk team are based in the New York, Madrid and London offices.