The senior non-preferred callable fixed-to-floating-rate notes are due 2029

Davis Polk advised the dealers in connection with the offering by CaixaBank, S.A. of $1.25 billion of senior non-preferred callable fixed-to-floating-rate notes due 2029.

The offering was CaixaBank’s first debt placement in dollars in the U.S. market and the first transaction settled under CaixaBank’s $5 billion Rule 144A / Regulation S U.S. medium-term note program established in February 2022.

CaixaBank is a leading financial group in Spain, offering banking and insurance services to more than 20 million customers. The bank’s shares are traded on the Spanish stock exchanges.

The Davis Polk U.S. corporate team included partner Michael J. Willisch, counsel Ester del Valle Izquierdo and associates Paula Querol and Michael McGuire. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided U.S. tax advice. Members of the Davis Polk team are based in the Madrid and London offices.