Santander UK plc and Abbey National Treasury Services plc - substitution of issuers, update of Global Covered Bond Programme and establishment of new Euro Medium Term Note Programme

Slaughter and May advised Santander UK plc and Abbey National Treasury Services plc in connection with the substitution of Santander UK plc as issuer in respect of the securities issued under Santander UK plc’s EUR 35 billion Global Covered Bond Programme and $30 billion Euro Medium Term Note Programme, as well as certain standalone issuances of notes. The substitutions took effect on 1 June 2016.

Slaughter and May also advised Santander UK plc on the annual update of the EUR 35 billion Global Covered Bond Programme and the establishment of a new $30 billion Euro Medium Term Note Programme with Santander UK plc as issuer.