Shearman And Sterling

News August 08, 2016

Shearman & Sterling Advises Legg Mason on $500 Million Offering

Shearman & Sterling represented Legg Mason, Inc. (the “Company”) as issuer in connection with a shelf takedown of $500 million aggregate principal amount of 5.45% junior subordinated notes due 2056. The Company expects to use the net proceeds of this offering, together with cash on hand, to repay the outstanding borrowings under its existing revolving credit facility and to pay fees and expenses related to this offering of notes.

Legg Mason, Inc. is a global asset management firm with approximately $742 billion in assets under management as of June 30, 2016.