Regions Bank $500 million senior notes reopening

Davis Polk advised Regions Bank in connection with a 3(a)(2) offering of $500 million aggregate principal amount of its senior fixed-to-floating rate bank notes due 2029, which will form a single series with the $1 billion aggregate principal amount of senior fixed-to-floating rate bank notes due 2029 issued by Regions Bank on May 29, 2026. During the floating interest rate period of the fixed-to-floating-rate notes, the interest rate on the notes is based on compounded SOFR, calculated by reference to the SOFR Index. The notes were offered and sold in reliance upon an exemption from registration provided in Section 3(a)(2) of the Securities Act.

Regions Financial Corporation, with $161 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,200 banking offices and more than 1,750 ATMs.

The Davis Polk corporate team included partner Shane Tintle, counsel Steven Glendon and associates Xi (Brooke) Zheng and Trevor Bernard. The financial institutions team included partner Margaret E. Tahyar and associate Mary Jane Dumankaya. The tax team included partner Aliza Slansky, counsel Dustin Plotnick and associate David J. Beer. All members of the Davis Polk team are based in the New York office.