Some of our recent representations in connection with the global financial crisis include:

• Representing the US Treasury Department in connection with its agreement to exchange up to $25 billion of Citigroup preferred stock it currently holds for shares of Citigroup common stock.  Upon completion of this exchange, the remaining $27 billion of Citigroup preferred stock held by the US Treasury and the FDIC would be exchanged for Citigroup trust preferred securities.  Read More.
• Representing JPMorgan Chase & Co. as issuer in a registered offering of $10 billion aggregate principal amount of notes guaranteed under the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program.  The offering comprised the following four series of notes: $3,000,000,000 of 2.20% Guaranteed Notes due 2012, $2,000,000,000 of 1.65% Guaranteed Notes Due 2011, $4,000,000,000 of Floating Rate Guaranteed Notes due 2012 and $1,000,000,000 of Floating Rate Guaranteed Notes due 2011.  Read More.
• Representing the U.S. Department of the Treasury in connection with its recent purchase of $20 billion of preferred stock with warrants from Citigroup under the Troubled Asset Relief Program. As part of the transaction, Treasury and the Federal Deposit Insurance Corporation agreed to provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real estate and other assets. The Firm is also representing Treasury in a similar transaction with Bank of America. Read More.
• Representing private investment firm MSD Capital and private equity firms Stone Point Capital and JC Flowers, three members of a consortium of investors in a thrift holding company that signed a letter of intent to purchase certain banking operations of IndyMac Federal Bank, FSB from the FDIC for approximately $13.9 billion. Read More.
• Advising the U.S. Treasury Department on structuring the equity purchase program portion of the Troubled Asset Relief Program. This program is being implemented under the Emergency Economic Stabilization Act of 2008. Lee Meyerson, head of the Firm's financial institutions group, is leading the Firm's involvement in this engagement. Read More.
• Representing Lehman Brothers in the sale of substantially all of the North American investment banking and capital markets businesses and operating assets of Lehman Brothers, Inc., a wholly-owned subsidiary of Lehman Brothers Holdings Inc., and certain related assets to Barclays Capital, the investment banking division of Barclays Bank PLC. Read More.
• Representing the Federal Reserve Bank of New York (FRBNY) in connection with the June 26 completion of certain arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies Inc. To facilitate the arrangements, the FRBNY extended a $28.82 billion loan and JPMorgan Chase & Co. extended a $1.15 billion loan to Maiden Lane LLC, a Delaware limited liability company (LLC). Read More.
• Representing the independent directors of American International Group in connection with its $85 billion loan from the U.S. government.

Other recent representations of our Financial Institutions Group include:

• Representing Corsair Capital, a significant shareholder of National City Corporation, in connection with National City’s announced acquisition by PNC Financial Services Group, Inc. for approximately $5.2 billion. Read More.
• Representing CapGen Financial in connection with its acquisition of approximately $100 million of newly issued shares of PacWest Bancorp common stock. Read More.
• Representing JP Morgan Chase & Co. in connection with a $1.6 billion offering of its perpetual non-cumulative preferred stock.
• Representing Lehman Brothers in Sovereign Bancorp, Inc.’s $1.4 billion follow-on offering of common stock and the underwriters in Sovereign Bank’s $500 million debt offering. Read More.
• Representing Washington Mutual in its $7.2 billion issuance of common stock, mandatory convertible preferred stock and warrants to TPG Capital and other investors. Read More.
• Representing Wachovia Corporation in its $8.05 billion offering of common stock and non-cumulative perpetual convertible preferred stock. Read More.
• Representing JPMorgan Chase & Co. in connection with a $6 billion offering of its perpetual non-cumulative preferred stock. Read More.
• Representing the lead investor, Corsair Capital, in a $7 billion capital raise for National City Corporation. The issuance included common shares, mandatory convertible preferred stock and warrants. Read More.
• Representing Lehman Brothers and the other underwriters in connection with a $304 million public offering of common stock (before exercise of the overallotment option) of The Colonial BancGroup, Inc. Read More.
• Representing the lead investors in a private placement by Thornburg Mortgage, Inc. of $1.35 billion principal amount of its senior subordinated secured notes, warrants to purchase 36.9% of its common stock outstanding on a fully diluted basis and a principal participation in certain of its mortgage related assets. Read More.
• Representing Seven Bank, Ltd. in connection with its $500 million initial public offering on the Jasdaq Securities Exchange and global offering to institutional investors pursuant to Rule 144A and Regulation S. Read More.
• Representing the underwriters in $3.15 Billion preferred and common stock offerings of SLM Corporation, commonly known as Sallie Mae. Read More.
• Representing TD Bank Financial Group in its $8.5 billion acquisition of Commerce Bancorp, Inc. Read More.
• Advising Blackstone in its acquisition of a stake in Alliant Insurance Services, Inc. Read More.
• Wachovia Corp. in its acquisition of A.G. Edwards, Inc for $6.8 billion. Read More.
• Representing the private equity investors in a precedent-setting $610 million recapitalization of Doral Financial Corp. of Puerto Rico. Read More.
• Representing Kohlberg Kravis Roberts & Co. in connection with its acquisition of First Data Corporation in a transaction valued at approximately $29 billion. Read More.
• Representing Wachovia Capital Markets, LLC and other financial institutions as co-leads of an underwriting syndicate, in the initial public offering of Eaton Vance Tax-Managed Diversified Equity Income Fund. The offering raised $5.5 billion ($6.3 billion, assuming full exercise of the underwriters’ over allotment option). Read More.