28 03 2016

Standard Chartered PLC and Standard Chartered Bank announce tender offers to repurchase twelve series of capital securities

Sullivan & Cromwell and Slaughter and May have Standard Chartered PLC and Standard Chartered Bank on its tender offers for twelve series of outstanding capital securities issued by Standard Chartered PLC and Standard Chartered Bank.


The capital securities tendered for had an aggregate principal amount outstanding of approximately US$6,300,000,000, of which approximately US$4,300,000,000 will remain outstanding following the tender offers, the maximum consideration payable in respect of which was capped at US$2,000,000,000. Standard Chartered Bank, Barclays Bank PLC, Barclays Capital Inc., Lloyds Bank plc and Lloyds Securities Inc. acted as dealer managers. Sullivan & Cromwell advised Standard Chartered PLC and Standard Chartered Bank on the deal with a team led by partner John O’Connor assisted by associate Sannu Shrestha. Slaughter and May advised Standard Chartered on the deal with a team led by Nilufer von Bismarck (partner, in picture), assisted by Andrew Chaplin (associate), Akshay Kundaiker (associate) and Anthony Phillips (associate). Involved fees earner: Nilufer von Bismarck - Slaughter and May; Andrew Chaplin - Slaughter and May; Akshay Kundaiker - Slaughter and May; Anthony Phillips - Slaughter and May; John O'Connor - Sullivan & Cromwell; Sannu Shrestha - Sullivan & Cromwell;

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