Banco Santander launches $2.8 billion offering of senior non-preferred notes

Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of senior non-preferred notes. The transaction comprised the SEC-registered issuance of three tranches of senior non-preferred notes: $300 million aggregate principal amount of senior non-preferred floating-rate notes due 2030; $1.25 billion aggregate principal amount of 4.551% senior non-preferred fixed-rate notes due 2030; and $1.25 billion aggregate principal amount of 5.127% senior non-preferred fixed-rate notes due 2035. Headquartered in Madrid, Banco Santander is a 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. Davis Polk represented client Banco Santander, S.A. with a team composed by: partner Pedro J. Bermeo (corporate); associate Jose Lucena-Rebollo (corporate); counsel Alon Gurfinkel (tax); associate Valentin Van de Walle (tax); counsel Leon E. Salkin (1940 Act advice); and associate Alex Brod (1940 Act advice). Members of the Davis Polk team were based in the firm’s New York, Madrid and London offices.

Banco Santander launches $2.8 billion offering of senior non-preferred notes

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