Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 28-10-2020 | Practice Area: | Debt Capital Markets |
| Deal Title: | Flagstar Bancorp Fixed-to-Floating Rate Subordinated Notes | Industry: | Banks |
| Description: |
Simpson Thacher represented Raymond James and Associates, Inc. and BofA Securities, Inc., as underwriters, in an offering of USD150 million aggregate principal amount of 4.125% Fixed-to-Floating Rate Subordinated Notes due 2030 of Flagstar Bancorp, Inc.. The proceeds from the offering were used to repurchase shares of Flagstar Bancorp's common stock held by MP Thrift Investments L.P., pursuant to a share repurchase agreement between Flagstar Bancorp and MP Thrift. After the completion of the Share Repurchase, MP Thrift owned approximately 17% of the issued and outstanding shares of Flagstar Bancorp's common stock.
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| Financial Center: | New York | Value: | 100.01-500.00 |
| Advised Party: | Underwriter | Law Firm | Simpson Thacher |
| Issuer Jurisdiction | United States | Listing Jurisdiction | United States |
| Classification: |
Corporate Bonds Subordinated Debt |
Lawyer | Lesley C Peng |
