Milbank LLP has advised the underwriters, led by NatWest Markets Securities Inc., in connection with NatWest Group plc’s offering of $1 billion 8.125% reset perpetual subordinated contingent convertible additional Tier 1 capital notes. The underwriters also included BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, UBS Securities LLC, CIBC World Markets Corp., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC.
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, associate Kristian Sutt, law clerk Caroline Green and legal assistants Alexander Hamilton and Kyriaki Kyriacou. The team also included New York Tax partner Andrew Walker, special counsel Craig Cohen and associate Seth Moreida, and London Tax partner Alan Rafferty.
