Shearman & Sterling represented Deere & Company in connection with an agricultural equipment receivables securitization, under which a special-purpose, bankruptcy-remote subsidiary of Deere & Co. will sell up to $2.25 billion in receivables to a group of investors led by Bank of America and Royal Bank of Canada. The transaction closed on January 26, 2009.

Deere & Company is the world’s leading provider of advanced products and services for agricultural and forestry and a major provider of advanced products and services for construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment. John Deere Construction & Forestry produces more than 120 machine models and distributes its construction, forestry, and worksite products through a network of more than 1,300 dealer locations worldwide.

The Shearman & Sterling team included partner Connie Fratianni (New York-Finance), of counsel Reade Ryan (New York-Finance), counsel Chris Poggi (New York-Finance), and associates Seth Chandler (New York-Finance) and James Smith (New York-Finance).