Danske Bank Abbreviated Debt Exchange Offer

Davis Polk advised the dealer managers in connection with Danske Bank A/S’s offer to exchange any and all of its outstanding 5.000% non-preferred senior notes due 2022 for its newly issued 5.000% non-preferred senior fixed-rate resettable notes due 2023. Approximately $420 million principal amount of the target notes were validly tendered and accepted for exchange pursuant to the exchange offer.

Based in Copenhagen, Denmark, Danske Bank A/S is a leading financial services provider in Denmark and offers customers a wide range of services in the fields of banking, mortgage finance, insurance, pension, real-estate brokerage, asset management and trading in fixed income products, foreign exchange and equities.

The Davis Polk U.S. corporate team included partner Reuven B. Young, counsel Radoslaw Michalak and associate Andrew Rowe. European counsel John Taylor and associate James Harmer provided English law advice. The U.S. tax team included counsel Alon Gurfinkel and associate Omer Harel. Members of the Davis Polk team are based in the London and New York offices.