Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of $1.5 billion aggregate principal amount of 2.706% senior preferred fixed-rate notes due 2024 and $1 billion aggregate principal amount of 3.306% senior preferred fixed-rate notes due 2029.

Headquartered in Madrid, Banco Santander 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 Concepción Olivera. Counsel Alon Gurfinkel provided tax advice. Associate Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the New York and London offices.