Davis Polk Advises Compass Bank on Its $1.15 Billion Senior Notes Offering

Davis Polk advised Compass Bank, a wholly owned subsidiary of BBVA Compass Bancshares, Inc., in connection with the offering of $450 million aggregate principal amount of its floating-rate senior notes due 2021 and $700 million aggregate principal amount of its 3.500% senior notes due 2021. The notes were sold under Compass Bank’s $5 billion global bank note program. The notes were offered pursuant to an exemption from registration provided by Section 3(a)(2) of the Securities Act. 

Headquartered in Birmingham, Alabama, Compass Bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest in the Sunbelt. 

The Davis Polk corporate team included partner John B. Meade and associates Andrew J. Terjesen and Michelle Ha. Partner Margaret E. Tahyar and counsel Christopher M. Paridon provided financial institutions advice. The tax team included partner Michael Farber and associate Liang Zhang. Members of the Davis Polk team are based in the New York and Washington DC offices.