Simpson Thacher represented the underwriters, led by BofA Merrill Lynch, J.P. Morgan, Goldman, Sachs & Co. and Barclays Capital, in connection with the initial public offering of 34,960,000 ordinary shares of Symetra Financial Corporation, including shares issued upon the full exercise of the underwriters’ over-allotment option, resulting in aggregate gross proceeds of $419.5 million. Of the 34,960,000 shares of common stock offered, 25,259,510 shares were offered by Symetra and 9,700,490 shares were offered by certain shareholders of Symetra. Symetra’s common stock is listed on the New York Stock Exchange under the symbol “SYA.”
Symetra Financial Corporation is a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefits consultants, financial institutions and independent agents and advisors.
The Simpson Thacher team included, among others, Gary Horowitz, Justin Cooke, Jed Weiner, Ignacio De la Huerta and Ashwin Cheriyan (Capital Markets); Jamin Koslowe, Eric Sarabia and David Schneider (Executive Compensation and Employee Benefits); LeAnn Leutner (PCAP); Mardi Merjian and Julia Miller (Real Estate); Jonathan Cantor and Amie Broder (Tax); Jennie Getsin (FINRA and Blue Sky); and Noah Richmond (Intellectual Property). Paralegal Simon Kliegman also provided valuable assistance.