Simpson Thacher Represents Underwriters in $555 Million IPO of Calamos Dynamic Convertible and Income Fund
03.31.15
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Simpson Thacher represented the underwriters, led by Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Ameriprise Financial Services, Inc. and RBC Capital Markets, LLC, in connection with the initial public offering of Calamos Dynamic Convertible and Income Fund (the "Fund"). The offering raised approximately $555 million, which would increase to approximately $638 million assuming full exercise of the overallotment option.
The Fund is a newly organized, diversified, closed-end management investment company which trades on the NASDAQ Global Select Market under the symbol "CCD." The Fund’s investment objective is to provide total return through a combination of capital appreciation and current income. The Fund seeks to achieve its investment objective by investing at least 80% in convertible securities and debt and equity income-producing securities, as well as other investments that generate current income and dividends. Calamos Advisors LLC is the Fund’s investment adviser.
The Simpson Thacher team for the transaction included Sarah Cogan, Rajib Chanda, Rafael Vasquez and Daniel Honeycutt (Capital Markets); Jonathan Cantor and Devin Heckman (Tax); and Jennie Getsin (Blue Sky and FINRA).