Standard Chartered PLC Issues $1 Billion  Perpetual Subordinated Securities

January 18, 2017

S&C client Standard Chartered PLC (SCPLC) issued $1,000,000,000 fixed rate resetting perpetual subordinated contingent convertible securities, which were structured to qualify as additional tier 1 capital for English bank regulatory purposes and were listed on the Main Board of the Hong Kong Stock Exchange. The securities were offered to qualified institutional buyers pursuant to Rule 144A and outside the United States in reliance on Regulation S.

The S&C team advising SCPLC on the U.S. matters of the offering included John O'Connor, Barlow Mann and Umberto Hassan, with Eric Wang, Max O'Neill and Andrew Motten advising on tax matters.