Davis Polk advised Banco Santander S.A. in connection with its SEC-registered offering of $1 billion aggregate principal amount of 3.500% second-ranking senior notes due 2022, $1 billion aggregate principal amount of 4.250% second-ranking senior notes due 2027 and $500 million aggregate principal amount of floating-rate second-ranking senior notes due 2022.

Headquartered in Madrid, Banco Santander, S.A. is the leading financial institution by market capitalization in the Eurozone and operates globally through a network of subsidiaries across Spain, the United Kingdom, the United States and Brazil, as well as other European and Latin American countries.

The Davis Polk corporate team included partner Nicholas A. Kronfeld and associates Pedro J. Bermeo and Rahim Manji. Partner John D. Paton and associate Omer Harel provided tax advice. Associate Colleen Blanco provided 1940 Act advice. Members of the Davis Polk team are based in the New York and London offices.