Davis Polk advised Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC as the underwriters in an SEC-registered public offering of 8,744,850 shares of common stock, par value $0.01 per share, of Webster Financial Corporation, sold by Warburg Pincus Private Equity X, L.P. and Warburg Pincus X Partners, L.P., as the selling stockholders. The net proceeds from the offering totaled approximately $196.8 million.
Webster Financial Corporation is a Waterbury, Connecticut-based financial holding company and bank holding company for Webster Bank, N.A. With $20.1 billion in assets, Webster Bank provides business and consumer banking, mortgage, financial planning, trust and investment services through 168 banking offices, 294 ATMs, telephone banking, mobile banking and the Internet.
The Davis Polk corporate team included partner John B. Meade and associates Liang Dong and Cherie H. Yang. The tax team included partner Samuel Dimon and associate Avinash Venkatesh. The financial institutions team included partner Margaret E. Tahyar and associate Priya Bindra. Kristyn M. Dunleavy was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.
