The Firm represented the underwriters, led by Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and UBS Securities LLC, as joint book-running managers, in connection with a public offering of 6,000,000 shares of 5.375% Non-Cumulative Perpetual Preferred Stock, Series A, $0.01 par value per share, with a liquidation preference of $25 per share, of Cullen/Frost Bankers, Inc. The offering closed on February 15, 2013.
Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company, headquartered in San Antonio, with $23.1 billion in assets at December 31, 2012. Among the top 50 largest U.S. banks and one of 24 banks included in the KBW Bank Index, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio regions.
The Simpson Thacher team included Lee Meyerson, Lesley Peng, Benjamin Wells, Jihyun Chung and Jonathan Stradling (Capital Markets); Stacie McGinn and Mark Chorazak (Bank Regulatory); Robert Holo, Danny Salinas and Sophie Staples (Tax); Andrea Wahlquist, Jeanne Annarumma and Daniel Avezbaki (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).
