Shearman & Sterling represented Legg Mason, Inc. (the “Company”) as issuer in connection with a shelf takedown of $450 million aggregate principal amount of 4.750% senior notes due 2026. The Company expects to use the net proceeds of this offering, together with the proceeds of its 6.375% junior subordinated notes due 2056 and a $500 million draw on its revolving facility, to finance the purchase of Clarion Partners and EnTrust Capital, and to pay related expenses and fees.

Legg Mason, Inc. is a global asset management firm with approximately $671 billion in assets under management as of December 31, 2015.

The Team