WilmerHale Advises State Street Corporation on $1.5 Billion Preferred Stock Offering

WilmerHale Advises State Street Corporation on $1.5 Billion Preferred Stock Offering

Client News

On January 31, 2024, State Street Corporation announced the closing of its public offering of 1,500,000 depositary shares, each representing a 1/100th ownership interest in a share of its 6.700% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I, without par value per share, with a liquidation preference of $100,000 per share. The offering priced on January 24, 2024 and closed on January 31, 2024. BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC acted as representatives of the underwriters for the offering. 

The WilmerHale team advising State Street Corporation on the offering consisted of Molly Fox, Andrew Langworthy, Katharine Patterson and Meghan McDuff (Capital Markets), with assistance from Benjamin Kelsey (Tax).