The Firm played a major role in the development of U.S. capital markets and was an important contributor to the drafting of securities laws, including the Securities Act of 1933.
Today, S&C is the leading law firm for U.S. and non-U.S. securities offerings by financial services companies. In particular, S&C is a leading firm for transactions involving capital securities issued by banking institutions, including common and preferred equity and more innovative hybrid securities. S&C provides comprehensive service for all phases of capital markets transactions, including:
- developing capital instruments and advising on the requirements of the capital guidelines applicable to issuers, such as the Basel III guidelines for banking organizations;
- structuring, timing and tax planning;
- publicity and research on new offerings;
- prospectus preparation;
- regulatory and corporate law; and
- negotiation of agreements, trust indentures, fiscal energy agreements and other transaction documents.
SELECTED REPRESENTATIONSRecent Sullivan & Cromwell capital markets experience includes representing:
- Bank of New York Mellon, in its $1 billion SEC-registered unsecured notes offering.
- ING, in its $1.27 billion SEC-registered IPO and NYSE listing of common stock.
- Barclays, in its $9.8 billion SEC-registered rights offering of common stock.
- China Merchants Bank, in its $5.7 billion unregistered rights issue of common stock.