Davis Polk advised the remarketing agents on the remarketing of 750,000 shares of Stanley Black & Decker’s Series C cumulative perpetual convertible preferred stock, without par value, with a liquidation preference of $1,000 per share, originally issued as 0% Series C cumulative preferred stock included in the equity units Stanley Black & Decker issued in May 2017.
Stanley Black & Decker is a diversified global provider of hand tools, power tools and related accessories, engineered fastening systems and products, services and equipment for oil & gas and infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions and automatic doors.
The Davis Polk capital markets team included partner John G. Crowley and associates Sana Bargach and Elizabeth Sheerin. The equity derivatives team included partner Ray Ibrahim and associate Crystal Chi. The tax team included partner Lucy W. Farr and associate Rebecca A. Rosen. Associate Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.