Simpson Thacher Represents Initial Purchaser in Hope Bancorp’s $217.5 Million Convertible Senior Notes Offering
07.05.18
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The Firm recently represented the initial purchaser, Merrill Lynch, Pierce, Fenner & Smith Incorporated, in the offering of $217.5 million aggregate principal amount of 2% Convertible Senior Notes due 2038 by Hope Bancorp, Inc. (“Hope”), which includes the partial exercise of the initial purchaser’s overallotment option. A portion of the net proceeds was used to repurchase shares of Hope common stock with the remaining net proceeds to be used for general corporate purposes.
Hope (NASDAQ: HOPE) is the bank holding company for the Bank of Hope. Headquartered in Los Angeles and serving a multi-ethnic population of customers, Bank of Hope offers core business banking products for small- and medium-sized businesses and individuals. It operates a network of 63 branches and eight loan production offices, focusing on areas having concentrations of Korean Americans.
The Simpson Thacher team included Roxane Reardon, Lia Toback and Robert Meyer (Capital Markets); Marcy Geller and Dmitry Zelik (Tax); Spencer Sloan (Banking Regulatory); Marcela Robledo (Intellectual Property); and Andrew Pagliughi (Blue Sky).