Legg Mason, Inc. $500 Million Junior Subordinated Notes Offering

Davis Polk advised the underwriters in an SEC-registered offering by Legg Mason, Inc. of $500 million aggregate principal amount of its 5.45% junior subordinated notes due 2056.

Legg Mason is a global asset management firm with $742 billion in assets under management as of June 30, 2016. Legg Mason provides active asset management in many major investment centers throughout the world.

The Davis Polk corporate team included partner John B. Meade and associates Roshni Banker Cariello and Eugene Baek. The tax team included partner Po Sit and associate Catherine L. Chu. All members of the Davis Polk team are based in the New York office.