News Search:
The Bank of N.T. Butterfield & Son Limited Secondary Offering
2/28/2017

Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with the $349 million secondary offering of 10,989,163 common shares of The Bank of N.T. Butterfield & Son Limited by certain selling shareholders, which included 1,433,369 shares from the full exercise of the underwriters’ option to purchase additional shares. The common shares are listed on the New York Stock Exchange under the symbol “NTB” and on the Bermuda Stock Exchange under the symbol “NTB.BH.”

Butterfield is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. Butterfield offers a full range of community banking services in Bermuda, and the Cayman Islands, encompassing retail and corporate banking and treasury activities. Butterfield provides various private banking, asset management, investment advisory, residential property lending and personal trust services from its headquarters in Bermuda and subsidiary offices in the Bahamas, the Cayman Islands, Guernsey, Switzerland and the United Kingdom.

The Davis Polk corporate team included partner John B. Meade and associates Milson C. Yu and Roohi Gupte. Partner Kathleen L. Ferrell and associate Yoojin L. Kim provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.