The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Cleary Gottlieb Steen & Hamilton has advised on Citigroup's third equity offering so far this year.
New York partners Alan Beller and Jeff Karpf led the firm's team advising the investment bank on its $4.5bn common stock offering, announced yesterday (30 April).
The equity offering comes just one week after Kapf and Beller advised the bank on the issuance of $6bn of preferred stock.
Karpf said: "It is an extremely longstanding relationship. We are the dedicated underwriting counsel for all of Citi's offerings."
Sullivan & Cromwell partner Mitch Eitel worked alongside the Cleary team as co-counsel advising on regulatory matters, while Skadden Arps Slate Meagher & Flom partners Eric Friedman and Greg Fernicola advised Citi as issuer counsel.
Earlier this year (1 February), The Lawyer reported that Cleary and Sullivan had advised Citi on its $19bn equity in which sovereign wealth funds, Government of Singapore Investment Corporation, the Kuwait Investment Authority and Prince Alwaleed bin Talal bin Abdulaziz all invested a stake in the bank.
Eitel said: "Given market volatility, I think it is indeed likely that we will see more banks raising capital in a variety of ways."