Simpson Thacher Represents Credit Suisse in Innovative Share Forward Transaction
12.14.10
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Simpson Thacher represented Credit Suisse Capital LLC in a privately negotiated share forward transaction with UBS AG, London Branch. The forward transaction references shares of common stock of Stillwater Mining Company, a Delaware corporation, and was entered into in conjunction with an issuance by UBS AG of $219,375,000 aggregate principal amount of 9.375% Mandatorily Exchangeable Notes due June 15, 2012 linked to Stillwater shares. The forward transaction generally replicates the economics of a portion of these mandatory exchange notes.
The Simpson Thacher team for the transactions included Joyce Xu and Sunny Cheong (Derivatives); Roxanne Reardon, Francis Marinelli and LeAnn Leutner (Capital Markets); and Marcy Geller and Vanessa Cohen (Tax).