Debevoise & Plimpton Advised Principal Financial Group In High Street Funding Trust III’s $500 Million Sale of Pre-Capitalized Trust Securities
Debevoise & Plimpton Advised Principal Financial Group In High Street Funding Trust III’s $500 Million Sale of Pre-Capitalized Trust Securities
The Trust entered a facility agreement with PFG following which PFG or some of its assignees hold the right from time to time to require the Trust to buy up to $500 million of PFG’s unsecured 5.807% Senior Notes payable 2055.
Debevoise & Plimpton LLP has advised Principal Financial Group (‘PFG’) with respect to High Street Funding Trust III’s (the Trust’s) offer and sale of $500 million in Pre-Capitalized Trust Securities exchangeable February 15, 2055. The Trust entered a facility agreement with PFG following which PFG or some of its assignees hold the right from time to time to require the Trust to buy up to $500 million of PFG’s unsecured 5.807% Senior Notes payable 2055.
Capital markets partners Benjamin Pedersen and Peter Loughran led the Debevoise team which included associates Jason Auman, Alice Gu and Leor Leben; law clerk Cindy Tu; tax partner Daniel Priest; and associate Martin Connor.
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