We advised NatWest Markets on its Rule 144A medium-term notes program update and notes offering

Davis Polk advised NatWest Markets Plc, a public limited company incorporated under the laws of Scotland, in connection with the update of its $10 billion Rule 144A medium-term notes program and its offering thereunder of $1 billion aggregate principal amount of 3.479% senior notes due 2025 and $500 million aggregate principal amount of floating-rate senior notes due 2025. The notes will be listed on the London Stock Exchange.

NatWest Markets is the investment banking arm of NatWest Group plc, a banking and financial services group. NatWest Markets provides risk management, trading solutions and debt financing principally to financial institutions and corporate customers. It has sales and trading operations in Amsterdam, London, Singapore and Stamford and sales offices across key locations in the United Kingdom, European Union, United States and Asia.

The Davis Polk U.S. corporate team included partner Reuven B. Young and associates Maxim Van de moortel and Tanu Sinha. The U.S. tax team included partner Michael Farber, counsel Alon Gurfinkel and associate Omer Harel. Partner Gregory S. Rowland provided 1940 Act advice. Members of the Davis Polk team are based in the London and New York offices.

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