Santander, S.A.’s $2.5 Billion Offering of Second-Ranking Senior Notes

Davis Polk & Wardwell, Uría Menéndez, Shearman & Sterling and Allen & Overy have advised on the transaction

Banco Santander S.A. completed its SEC-registered offering of $1 billion aggregate principal amount of 3.500% second-ranking senior notes due 2022, $1 billion aggregate principal amount of 4.250% second-ranking senior notes due 2027 and $500 million aggregate principal amount of floating-rate second-ranking senior notes due 2022.

Headquartered in Madrid, Banco Santander, S.A. is the 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.

Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch, Pierce Fenner & Smith Incorporated, Santander Investment Securities Inc. and Wells Fargo Securities, LLC acted as Joint Book-Running Managers.

The Davis Polk corporate team included partner Nicholas A. Kronfeld (Picture) and associates Pedro J. Bermeo and Rahim Manji. Partner John D. Paton and associate Omer Harel provided tax advice. Associate Colleen Blanco provided 1940 Act advice.

In Spain, Uría Menéndez has advised Banco Santander with Luis Acuña, David López Pombo, Carolina Albuerne, Irene Martín and Gorka Atutxa.

Shearman & Sterling LLP has adivsed the Joint Book-Running Managers with David Dixter, Stuart Fleischmann, Jennifer Morton, Jeffrey Tate, Naveen Pogula, Hillary Bailey, Elena Dzhurova, Oscar López, Minkyu Park, Jenny Ding and Kammy Lai.

In Madrid, Allen & Overy has advised Joint Book-Running Managers with Salvador Ruiz Bachs.


Involved fees earner: Nicholas Kronfeld – Davis Polk & Wardwell; Pedro Bermeo – Davis Polk & Wardwell; Rahim Manji – Davis Polk & Wardwell; John Paton – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Colleen Blanco – Davis Polk & Wardwell; Luis Acuña Alonso – Uría Menéndez; Carolina Albuerne – Uría Menéndez; David López Pombo – Uría Menéndez; David Dixter – Shearman & Sterling; Stuart Fleischmann – Shearman & Sterling; Naveen Pogula – Shearman & Sterling; Hillary Bailey – Shearman & Sterling; Elena Dzhurova – Shearman & Sterling; Oscar Lopez – Shearman & Sterling; Minkyu Park – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Kammy Lai – Shearman & Sterling; Jennifer Morton – Shearman & Sterling; Salvador Ruiz Bachs – Allen & Overy;

Law Firms: Davis Polk & Wardwell; Uría Menéndez; Shearman & Sterling; Allen & Overy;

Clients: Bank of America Merrill Lynch; Banco Santander Sa; Wells Fargo; Credit Suisse Securities Limited; Santander Securities ;


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Author: Ambrogio Visconti