The Royal Bank of Scotland Group’s $1.25 Billion Notes Offering

Davis Polk advised The Royal Bank of Scotland Group plc, a public limited company incorporated under the laws of Scotland, in connection with its SEC-registered shelf takedown of $1.25 billion aggregate principal amount of 4.445% fixed-rate/floating-rate senior notes due 2030.

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 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 Davis. Partner Jonathan Cooklin and associate Dominic Foulkes provided U.K. tax advice. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Matthew R. Silver provided 1940 Act advice.

Involved fees earner: Jonathan Cooklin – Davis Polk & Wardwell; Kate Darracott – Davis Polk & Wardwell; Veronica Davis – Davis Polk & Wardwell; Dominic Foulkes – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Gregory Rowland – Davis Polk & Wardwell; Matthew Silver – Davis Polk & Wardwell; Maxim Van de moortel – Davis Polk & Wardwell; Reuven Young – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: The Royal Bank of Scotland Group;