We advised Banco Santander on its tender offers for fixed-rate notes

Davis Polk advised Banco Santander, S.A. in connection with its cash tender offers for $3.5 billion aggregate principal amount of its 3.496% senior preferred fixed-rate notes due 2025, 2.746% senior non-preferred fixed rate notes due 2025, 5.147% senior non-preferred fixed rate notes due 2025 and 1.849% senior non-preferred fixed rate notes due 2026.

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 partner Pedro J. Bermeo and associate Michael Schuster. The tax team included counsel Alon Gurfinkel and associates Kelli A. Rivers and Valentin Van de Walle. Members of the Davis Polk team are based in the New York and London offices.

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