CHICAGO – June 2, 2016 – Attorneys with international law firm Greenberg Traurig, LLP represented investors in a U.S. private placement of $260 million aggregated principal amount of subordinated notes due April 19, 2026. The issuer, Signature Bank, is a New York state chartered bank regulated by the New York Department of Financial Services and the Federal Deposit Insurance Corporation (FDIC). This subordinated debt issuance was one of the first such issuances as a U.S. private placement that has successfully closed since the 2008 financial crisis. The transaction closed April 19, 2016.
The notes were issued to a limited number of institutional investors in reliance upon the exemption provided by Section 3(a)(2) of the Securities Act of 1933, as amended (the Securities Act). The securities are not deposits and are neither insured nor approved by the FDIC. The issuance and sale of the notes have not been registered under the Securities Act or under the securities laws of any state.
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