CaixaBank $2 billion notes offering under $7.5 billion U.S. MTN program
The offering involved senior non-preferred callable fixed-to-floating-rate notes due 2030 and 2035
Davis Polk advised the dealers in connection with the offering by CaixaBank, S.A. of $1 billion aggregate principal amount of 5.673% senior non-preferred callable fixed-to-floating-rate notes due 2030 and $1 billion aggregate principal amount of 6.037% senior non-preferred callable fixed-to-floating-rate notes due 2035.
The transaction settled under CaixaBank’s $7.5 billion Rule 144A / Regulation S U.S. medium-term note program established in February 2022 and updated in March 2024.
CaixaBank is a leading financial group in Spain, offering banking and insurance services to more than 20 million customers. The bank’s shares are traded on the Spanish stock exchanges.
The Davis Polk U.S. corporate team included partner Michael J. Willisch, counsel Ester del Valle Izquierdo and Paula Querol and associate Michael McGuire. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided U.S. tax advice. Members of the Davis Polk team are based in the Madrid and London offices.