Simpson Thacher Represents JPMorgan Chase in $6 Billion Preferred Stock Offering
04.23.08
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The Firm represented JPMorgan Chase & Co. in connection with a $6 billion offering of its perpetual non-cumulative preferred stock. The offering, which closed on April 23, is the largest such offering in JPMorgan’s history. The dividend rate on the preferred shares will be a fixed rate of 7.9% annually for 10 years from issuance and a LIBOR-based floating rate thereafter.
The Simpson Thacher team for the transaction included Lee Meyerson, Andy Keller, Maripat Alpuche, Jessica Gross, Mark Brod, Justin Cooke, Mark Chorazak and Jake Levy (Corporate), Marcy Geller and Jonathan Cantor (Tax) and Jeanne Annarumma (ERISA).