Banco Santander $1.5 billion senior preferred fixed-to-fixed-rate notes offering

Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of $1.5 billion aggregate principal amount of 0.701% senior preferred fixed-to-fixed-rate notes due 2024.

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 associates Ariel Rivera and Michael McGuire. The tax team included partner Po Sit and associate Summer Xia. Associate Leon E. Salkin provided 1940 Act advice. Members of the Davis Polk team are based in the New York and London offices.