Shearman And Sterling

News May 22, 2020

Natwest Markets Plc’s Us Medium-Term Note Program Update and $1 Billion Notes Offering

Shearman & Sterling represented the dealers, led by NatWest Markets Securities and J.P. Morgan, as arrangers, in connection with the update of NatWest Markets Plc’s $10 billion U.S. medium-term note program (the “Program”). Shearman & Sterling also represented the dealers, led by NatWest Markets Securities, in connection with a subsequent drawdown of $1.0 billion of 2.375% Senior Notes due 2023 under the Program.

The base prospectus for the Program was approved by the Financial Conduct Authority on May 13, 2020 and the notes were issued on May 21, 2020.

NatWest Markets plc provides risk management, trading solutions and debt financing principally to global financial institutions and U.K. and European corporate customers to help these customers manage their financial risks and achieve their short- and long-term financial goals while navigating changing markets and regulation. Following the implementation of the U.K. ring-fencing regime, which requires the separation of essential banking services from investment banking services from January 1, 2019, NatWest Markets plc is the main non-ringfenced entity of The Royal Bank of Scotland Group plc, and is required to self-finance.

The Shearman & Sterling team below also included associate Harekrishna Ashar.

The Team

Regional Experience