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Shearman & Sterling Advises on Consent Solicitation for IKB Deutsche Industriebank

10 Jul 2017

Shearman & Sterling advised IKB Deutsche Industriebank Aktiengesellschaft (IKB) and its subsidiary IKB Funding Trust II in a consent solicitation for certain amendments to the governing documents of IKB Funding Trust II in order to effectuate the substitution of €160 million in 4.5% subordinated notes due 2022 issued by IKB and €60,000 in cash for €400 million of noncumulative trust preferred securities issued by IKB Funding Trust II that were not currently paying dividends by means of the merger of IKB Funding Merger Trust II with and into IKB Funding Trust II. 

The Shearman & Sterling team included partners Richard Alsop (New York-Capital Markets), Bjorn Bjerke (New York-Finance), Andreas Löhdefink (Frankfurt-Mergers & Acquisitions) and Michael Shulman (Washington, DC-Tax); counsel Pawel Szaja (London-Capital Markets); and associates Sean Dougherty, Daniel Yao (both New York-Capital Markets), Michael Daly (Washington, DC-Tax) and Rayanna Smith (New York-Corporate Group).

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