Simpson Thacher Handles $2 Billion SEC-Registered Offering of Floating Rate Notes by Subsidiary of Abbey National plc
07.27.05
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Simpson Thacher recently represented Citigroup, Credit Suisse First Boston, and Goldman, Sachs & Co. as underwriters in connection with a $2.0 billion SEC-registered offering of floating rate notes by a finance subsidiary of Abbey National plc. The offering was the first by Abbey National in the U.S. since the completion of its two-year restructuring program and its acquisition by Banco Santander in 2004. The transaction closed on June 29, 2005.
Abbey National is the second largest mortgage lender, and third largest savings brand, in the United Kingdom, with total assets of over £169 billion. Simpson Thacher has acted as underwriters' counsel on Abbey National's U.S. offerings since the early 1990's.
The Simpson Thacher team on the offering included corporate lawyers Walt Looney, Caroline Chang, Christoph Haenschel, and Tom Wedeles; tax lawyers Meredith Jones and Tom Gray; and summer associate Bryan Tollin.