The investment-grade notes are due 2034

Davis Polk advised the underwriters in connection with an SEC-registered offering of $750 million aggregate principal amount of 5.418% notes due 2034 by National Grid plc.

National Grid plc is an international energy utility company based in the United Kingdom and northeastern United States. Its principal operations are in the ownership and operation of electricity transmission infrastructure. It also has interests in related matters, including electricity interconnectors and metering services in the United Kingdom and liquefied natural gas storage and transportation in the United States.

The Davis Polk U.S. corporate team included partner Reuven B. Young and associate Gianna Ceophas. The U.K. corporate team included European counsel John Taylor. Counsel Alon Gurfinkel provided U.S. tax advice. Partner Jonathan Cooklin and associate Patrick O’Donovan provided U.K. tax advice. Counsel Michael Comstock and associate Timothy J. Sullivan provided environmental advice. Members of the Davis Polk team are based in the London and New York offices.