Cleary Gottlieb represented Santander UK in the offering of $750 million 2.000% notes due 2018 and $250 million floating rate notes due 2018 by Abbey National Treasury Services, a wholly-owned subsidiary of Santander UK. The notes are guaranteed by Santander UK. The notes include provisions to reflect the “bail-in” power under the UK Banking Act. The offering, a takedown from Abbey National Treasury Services’ and Santander UK’s shelf registration statement, closed on August 24, 2015.
Santander UK is a major financial services provider in the UK, operating across a wide range of personal and corporate banking products and services.