Shearman & Sterling represented the underwriters (led by RBS Securities Inc.) in connection with a global offering by The Royal Bank of Scotland Group plc of $2.25 billion of 6.125% Subordinated Tier 2 Notes due 2022.
The RBS Group is one of the world’s largest banking and financial services organizations. It is headquartered in Edinburgh, Scotland and provides a wide range of products and services to personal, commercial and large corporate and institutional customers in over 50 countries.
The Shearman & Sterling team of lawyers in the firm’s London and New York offices included capital markets partner Apostolos Gkoutzinis and associates Marwa Elborai, Yaw Asare and Priyanka Raswant. Partner Douglas McFadyen and associate Derek Kershaw advised on US tax aspects of the offering and partner Iain Scoon and associate James Leslie advised on UK tax issues. Financial institutions advisory & financial regulatory counsel Azad Ali and associate Mak Judge advised on UK regulatory aspects of the offering and partner Russell Sacks and associate Shriram Bhashyam advised on US regulatory aspects.
