Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of $1.5 billion aggregate principal amount of 2.749% Tier 2 subordinated fixed-rate notes due 2030. 

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.

The Davis Polk corporate team included partners Nicholas A. Kronfeld and Pedro J. Bermeo and associate Jose Lucena-Rebollo. The tax team included counsel Alon Gurfinkel and associate Summer Xia. Associate Allison Gunther provided 1940 Act advice. Members of the Davis Polk team are based in the New York, Madrid and London offices.