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News Sep 20, 2016

Shearman & Sterling Advises Underwriters on Eaton’s €550 Million Notes Offering

Shearman & Sterling represented Barclays Bank PLC, Deutsche Bank AG, London Branch and Morgan Stanley & Co. International plc as joint book-running managers in connection with Eaton Capital Unlimited Company’s offering of €550 million aggregate principal amount of 0.750% guaranteed notes due 2024. The guaranteed notes are listed on the Irish Stock Exchange and were offered outside the United States pursuant to Regulation S under the Securities Act.

Eaton Capital Unlimited Company is a subsidiary of Eaton Corporation plc (NYSE: ETN), a power management company with 2015 sales of $20.9 billion. Eaton provides energy-efficient solutions that help their customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 96,000 employees and sells products to customers in more than 175 countries.

The Shearman & Sterling team included partner Lisa Jacobs (New York-Capital Markets) and associates Sean Dougherty (New York-Capital Markets), Robert Giannattasio (New York-Capital Markets) and Brian Hurd (New York-Corporate). Other Shearman & Sterling lawyers involved in the transaction were partners Thomas Donegan (London-Financial Institutions Advisory & Financial Regulatory), Patrick Clancy (London-Finance) and Kristen Garry (Washington, DC-Tax); of counsel Dan Newcomb (New York-Litigation); and associate Eric Grosshandler (New York-Tax).