Slaughter and May advised Standard Chartered PLC and Standard Chartered Bank on its tender offers for twelve series of outstanding capital securities issued by Standard Chartered PLC and Standard Chartered Bank.

The capital securities tendered for had an aggregate principal amount outstanding of approximately US$6,300,000,000, of which approximately US$4,300,000,000 will remain outstanding following the tender offers, the maximum consideration payable in respect of which was capped at US$2,000,000,000. The tender offers were made on 11 March 2016 and the results of the tender offers were announced on 21 March 2016.

Standard Chartered Bank, Barclays Bank PLC, Barclays Capital Inc., Lloyds Bank plc and Lloyds Securities Inc. acted as dealer managers. Sullivan & Cromwell advised Standard Chartered PLC and Standard Chartered Bank as to New York law.

Contacts

Financing: Nilufer von Bismarck (partner), Andrew Chaplin (associate), Akshay Kundaiker (associate), Anthony Phillips (associate)

Sullivan & Cromwell: John O’Connor (partner), Sannu Shrestha (associate)