June 16, 2025

Milbank Advises Underwriters in Connection with NatWest Group Plc’s Offering of $1.55B Senior Notes

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Milbank LLP has advised the underwriters, led by NatWest Markets Securities Inc., in connection with NatWest Group plc’s offering of $1,250,000,000 5.115% senior callable fixed-to-fixed reset rate notes due 2031 and $300,000,000 senior callable floating rate notes due 2029. The underwriters also included BofA Securities, Inc., Goldman Sachs & Co. LLC, Jefferies LLC, Morgan Stanley & Co. LLC, TD Securities (USA) LLC, CIBC World Markets Corp., and Scotia Capital (USA) Inc.

NatWest Group is the largest business and commercial bank in the UK, with a leading retail business.

The Milbank team was led by Corporate Finance and Securities partner David Dixter and associates Harshil Bansal, Facundo Gonzalez Bustamante and Russell Feinman. The team also included New York Tax partner Andrew Walker and associate Seth Moreida, and London Tax partner Alan Rafferty and associate Liam Markham.