The Firm represented the underwriters, led by Morgan Stanley & Co. LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, UBS Securities LLC and Wells Fargo Securities, LLC as joint book-running managers, in connection with a public offering of 20,000,000 Depositary Shares, each representing a 1/40th interest in a share of 6.375% Non-Cumulative Perpetual Preferred Stock, Series A, par value $1 per share, with a liquidation preference of $1,000 per share, of Regions Financial Corporation. The Underwriters have the right to purchase up to an additional 2,000,000 depositary shares at the public offering price to cover over-allotments. The offering closed on November 1, 2012.
Regions Financial Corporation is a Delaware corporation (NYSE symbol: RF) and financial holding company headquartered in Birmingham, Alabama, which operates throughout the South, Midwest and Texas. Regions provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of asset management, trust, insurance and other specialty financing.
The Simpson Thacher team included Lee Meyerson, Lesley Peng, Jeremy Barr and John Kupiec (Capital Markets); Stacie McGinn and Mark Chorazak (Bank Regulatory); Jonathan Cantor and Chang Won Choi (Tax); Andrea Wahlquist and Jeannine McSweeney (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).
