The Firm represented Lehman Brothers in connection with the public offering of 179,687,500 shares of common stock of Sovereign Bancorp, Inc. and the underwriters, led by Lehman Brothers, in connection with the offering of $500 million of 8.750% Subordinated Notes due 2018 of Sovereign Bank. The offering of common stock, including the full exercise of the over-allotment option, raised an aggregate of $1,437,500,000. The common stock is listed on the New York Stock Exchange under the symbol "SOV."
Sovereign Bancorp, Inc. is a savings and loan holding company and the parent company of Sovereign Bank, a financial institution with principal markets in the Northeastern United States.
The Simpson Thacher team for the Sovereign Bancorp, Inc. transaction included Lee Meyerson, Maripat Alpuche, Christopher Frigon, Patrick Baron, Fernando Szterling, Samuel Porter, Samantha Shipp and Youngjin Sohn (Corporate), Marcy Geller, Jonathan Cantor and Sean Austin (Tax) and Mark Lab and Andrew Pagliughi (FINRA and Blue Sky).
The Simpson Thacher team for the Sovereign Bank transaction included Lee Meyerson, Jessica Gross, Christopher Frigon, Fernando Szterling, Samuel Porter, Samantha Shipp, Younglin Sohn and Lia Toback (Corporate), Gary Rice (Bank Regulatory), Marcy Geller, Jonathan Cantor and Sean Austin (Tax) and Jeanne Annarumma (Benefits), with paralegal assistance from Michael McLaughlin.