Shearman & Sterling represented Banc of America Securities LLC, Morgan Stanley & Co. Incorporated, Wells Fargo Securities, LLC and BB&T Capital Markets, a division of Scott & Stringfellow, LLC, as joint lead managers and bookrunners and RBC Capital Markets Corporation, as co-manager, in connection with an offering by BB&T Corporation and BB&T Capital Trust VII consisting of 14,000,000 Enhanced Trust Preferred Securities of the Trust. This offering included the exercise in full of the underwriters’ over-allotment option to purchase an additional 1,000,000 Enhanced Trust Preferred Securities, for net proceeds of approximately $339 million.

The following Shearman & Sterling team advised the underwriters in the transaction: partners Michael Schiavone (New York-Capital Markets), Lona Nallengara (New York-Capital Markets) and Craig Gibian (Washington, DC-Tax) and associates Kevin Roggow (Toronto-Capital Markets), Ann Matthews (New York-Capital Markets), Dawei (David) Ni (New York-Capital Markets) and Patrick Valenti (Washington, DC-Tax).