Santander UK in $1.5 Billion Subordinated Note Offering

November 7, 2013

Cleary Gottlieb represented Santander UK in a $1.5 billion Regulation S/Rule 144A offering of 5.000% Fixed Rate Subordinated Notes due 2023. The debt is intended to qualify as Tier 2 capital for applicable bank regulatory purposes. The offering launched and priced on October 31 and closed on November 7.

Santander UK is a major financial services provider in the United Kingdom, operating across a wide range of personal and corporate banking products and services.