Preferred and Capital Securities
Sidley is one of the leading legal advisers on a broad range of preferred and capital securities products, including:
- Auction and remarketed preferred;
- DRD preferred;
- Trust preferred;
- Partnership preferred;
- Pay-in-kind preferred;
- Hybrid capital securities;
- Participating capital instruments; and
- Various bank regulatory capital instruments including Tier I and Tier II securities.
Our experience encompasses preferred and capital securities product structuring and execution in the U.S., Europe, Asia and globally for U.S., Canadian, Latin American, Asian, Australian, European and other issuers.
Our preferred and capital securities practice consists of partners, counsel and associates with strong backgrounds in corporate, securities, banking, insurance, investment company, tax, ERISA, bankruptcy, structured finance, commodities and futures regulation. This multidisciplinary group concentrates on the development and execution of preferred and capital securities transactions. The group has expanded as preferred and capital securities transactions have grown in their complexity and areas of application. The senior members of this group have worked for over fifteen years with a broad array of investment banks and issuers on preferred and capital securities transactions designed to achieve a wide array of objectives, including tax, regulatory, credit rating and strategic benefits.