Milbank LLP advised the underwriters, led by NatWest Markets Securities Inc., in connection with NatWest Group plc’s (formerly The Royal Bank of Scotland Group plc) offering of $750,000,000 4.600% Reset Perpetual Subordinated Contingent Convertible Additional Tier 1 Capital Notes. The underwriters also included Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and UBS Securities LLC.
Earlier in the month Milbank LLP also advised the underwriters, led by NatWest Markets Securities Inc., in connection with NatWest Group plc’s (formerly The Royal Bank of Scotland Group plc) offering of $1,500,000,000 1.642% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027. The underwriters also included Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC.
NatWest Group is the largest business and commercial bank in the UK, with a leading retail business.
The Milbank team was led by partner David Dixter, with special counsel Ana Grbec and associates Carlos Cabrera and Kristian Sutt. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate David Hanno as well as London Tax associate James Seddon.
