The investment-grade bonds are due 2025

Davis Polk advised the underwriters in connection with the offering of $3.5 billion aggregate principal amount of 2.875% U.S. dollar bonds due April 28, 2025, issued by Her Majesty in Right of Canada.

The Davis Polk capital markets team included partner Deanna L. Kirkpatrick, counsel Jeffrey S. Ramsay and associate David Li.  The tax team included partner Mario J. Verdolini and associate Dylan J. Steiner.  All members of the Davis Polk team are based in the New York office.