Slaughter and May advised Santander UK plc on the issuance of US$1.5 billion 5.000 per cent. Fixed Rate Subordinated Notes due 2023 (the 'Notes'), which are capable of qualifying as Tier 2 capital for regulatory capital purposes. The Notes were listed on the Main Securities Market of the Irish Stock Exchange.

The joint lead managers were Barclays Capital Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and Santander Investment Securities Inc.

CONTACTS

Financing: Miranda Leung (partner), Edward Comber (associate), David Hay (associate); Financial Regulation: Ruth Fox (partner), Helen Morrison (associate); Tax: Sara Luder (partner), James Olsen (associate)