Herbies bags £300m B&B rights issue
Herbert Smith and Freshfields Bruckhaus Deringer have snared the lead advisory roles on the £300m rights issue by UK lender Bradford & Bingley (B&B). Herbert Smith is advising B&B, with the top 10 City outfit fielding a team under corporate chief Michael Walter and fellow corporate partners Adam Levitt and Will Pearce. Also advising are tax partner Derek Hill, employment partner Paul Ellerman and US securities partner Adam Wells.
May 14, 2008 at 11:46 AM
2 minute read
Herbert Smith and Freshfields Bruckhaus Deringer have snared the lead advisory roles on the £300m rights issue by UK lender Bradford & Bingley (B&B).
Herbert Smith is advising B&B, with the top 10 City outfit fielding a team under corporate chief Michael Walter and fellow corporate partners Adam Levitt and Will Pearce. Also advising are tax partner Derek Hill, employment partner Paul Ellerman and US securities partner Adam Wells.
Freshfields is advising the underwriting banks, Citi and UBS, with the magic circle giant fielding a team led by senior corporate partner Will Lawes.
Walter commented: "We are delighted to have assisted our long-standing client… to achieve this important step in its ongoing funding strategy. We take great pride in the support we are able to provide to the firm's institutional and corporate clients as they look to strengthen their financial and competitive positions in an increasingly challenging economic environment."
The issue, which is subject to shareholder approval and will be used by the bank to strengthen its capital position, is the latest in a line of similar moves by UK banks in recent weeks.
Allen & Overy (A&O) landed a plum role advising HBOS on its £4bn rights issue while Royal Bank of Scotland last month announced its own record-breaking £12bn cash-call, with magic circle giant Linklaters bagging lead advisory duties and Freshfields advising the underwriters, Goldman Sachs, Merrill Lynch and UBS.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Slaughter and May and A&O Shearman Advise as Latest UK Company Goes American
3 minute read
Linklaters Continues Renewable Energy Hot Streak With Latest Offshore Wind Farm Project
2 minute read
Trio of Firms Act On Chinese Insurer Ping An's $1.7B Stake Acquisition In Healthcare Arm
Trending Stories
- 1'Knowledge of Mismatch:' Fed Judge Offers Guidance on How to Hold Banks Accountable for Erroneous Transfers
- 2PAGA Claims Must Now Be 'Headed'
- 3Million-Dollar Verdict: Broward Jury Sides With Small Business
- 4'Reluctant to Trust'?: NY Courts Continue to Grapple With Complexities of Jury Diversity
- 5'Careless Execution' of Presidential Pardons Freed Convicted Sex Trafficker, US Judge Laments
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
