Davis Polk advised Nederlandse Waterschapsbank Bank N.V. in connection with the annual update of its €60 billion Rule 144A/Regulation S debt issuance program. In the 12 months prior to the update, Davis Polk advised NWB Bank in connection with senior notes issuances totaling $1.5 billion.

NWB Bank is a specialized lender to the public sector primarily in the Netherlands, providing short-term and long-term financing to water authorities, municipal and provincial authorities as well as to other public sector institutions such as social housing corporations, health care and educational institutions.

The Davis Polk corporate team included partner Reuven B. Young, counsel Connie I. Milonakis and associates Ida Araya-Brumskine and Grecia Barboza. Counsel Alon Gurfinkel and associate Omer Harel provided U.S. tax advice. Partner Jonathan Cooklin and associate Rosie Upstill provided U.K. tax advice. Partner Veronica M. Wissel and associate Timothy John Durbin provided executive compensation advice. Members of the Davis Polk team are based in the London and New York offices.