Citizens Financial Group $3.6 billion secondary offering

Overview:

• $3.6 billion of Citizens Financial Group stock has been issued in a secondary offering.
• The shares were sold by a wholly-owned subsidiary of The Royal Bank of Scotland Group (RBSG) on the NYSE.
• When announced, this was the second largest US equity offering of 2015.
• Davis Polk & Wardwell (Nicholas Kronfeld, Luigi De Ghengi) advised Citizens and RBSG.
• Cleary Gottlieb Steen & Hamilton (Leslie Silverman) represented the underwriters.

Kurt Stumpo - Journalist - North America and the Caribbean