Shearman And Sterling

News March 21, 2016

Shearman & Sterling Advises Underwriters in Preferred Securities Offering by Huntington Bancshares Incorporated

Shearman & Sterling LLP represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC as representatives of the underwriters in connection with the registered offering by Huntington Bancshares Incorporated of 16 million  depositary shares (including 2 million depositary shares issued pursuant to the exercise of an over-allotment option by the underwriters), each representing a 1/40th interest in a share of its 6.250% Series D Non-Cumulative Perpetual Preferred Stock.  The depositary shares will be listed on the NASDAQ Global Select Market under the symbol “HBANO.”  

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. The bank, founded in 1866, and its affiliates provide full-service commercial, small business and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services.  Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, the bank also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.

The Shearman & Sterling team included partner Lisa Jacobs (New York-Capital Markets) and associates Joseph Payne (New York-Capital Markets), Yi Han Goh (New York-Capital Markets), Frank Oliver (New York-Corporate) and Kevin Paulsen (New York-Corporate).  Other Shearman & Sterling lawyers involved in the transaction were partners Reena Sahni (New York-Financial Institutions Advisory & Financial Regulatory) and Larry Crouch (Menlo Park-Tax), counsel Sharon Lippett (New York- Compensation, Governance & ERISA) and Jennifer Morton (New York-Financial Institutions Advisory & Financial Regulatory), associates Christina Broch (Washington, DC-Financial Institutions Advisory & Financial Regulatory), Steven Blau (Toronto-Financial Institutions Advisory & Financial Regulatory), Kyle Phillips (Menlo Park-Tax), Matthew Weston (New York-Compensation, Governance & ERISA) and Sean Kelly (New York-Corporate).