CHICAGO (May 18, 2009) — McDermott Will & Emery LLP represented Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated in connection with offerings by Northern Trust Corporation in an aggregate amount of $1.3625 billion.
The transaction involved offerings of 17,250,000 shares of common stock and $500,000,000 of 4.625 percent senior notes due in 2014. Subject to consultation with regulators, Northern Trust intends to use the proceeds to redeem the preferred stock and repurchase warrants issued and sold to the U.S. Department of Treasury as part of the TARP Capital Purchase Program.
The McDermott team was led by corporate partner John Tamisiea, with assistance from corporate partner Eric Orsic and corporate associates Timothy Boarini and Emily Harring.
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