The Royal Bank of Scotland Group plc’s $1.75 Billion Notes Offering

Davis Polk advised The Royal Bank of Scotland Group plc (RBSG) in connection with its SEC-registered offering of $1.75 billion aggregate principal amount of 4.892% fixed-rate/floating-rate senior notes due 2029.

RBSG is the holding company of a large banking and financial services group. Headquartered in Edinburgh, RBSG operates in the United Kingdom and internationally through a network of branches, local banks and non-bank subsidiaries. The banks in the group authorized in the United Kingdom include The Royal Bank of Scotland plc, NatWest Markets Plc, National Westminster Bank Plc, Coutts & Co and Ulster Bank Limited. RBSG has a diversified customer base and provides a wide range of products and services to personal, commercial and large corporate and institutional customers.

The Davis Polk corporate team included partner Reuven B. Young (Picture) and associates Kate Darracott and Maxim Van de moortel. The U.S. tax team included counsel Alon Gurfinkel and associate Veronica Orecharova. Partner Jonathan Cooklin and counsel David Wilson provided U.K. tax advice. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Jennifer Lin Ricci provided 1940 Act advice.


Involved fees earner: Reuven Young – Davis Polk & Wardwell; Kate Darracott – Davis Polk & Wardwell; Maxim Van de moortel – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Veronica Orecharova – Davis Polk & Wardwell; Jonathan Cooklin – Davis Polk & Wardwell; David Wilson – Davis Polk & Wardwell; Gregory Rowland – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Jennifer Lin Ricci – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: RBS;