Legal Business

Barclays £5.8bn rights issue sees CC, Sullivans and Freshfields in the lead

Barclays has begun the biggest capital raising by a UK bank since 2009, under which Clifford Chance (CC), Sullivan & Cromwell and Freshfields Bruckhaus Deringer led on its initial £5.8bn rights issue, as the global financial institution moves to plug a £12.8bn funding gap.

A team from CC, led by London corporate partner Patrick Sarch and capital markets partner Simon Thomas, advised on English law for Barclays, while a Sullivan & Cromwell team in London advised the bank on US law, led by client relationship partners George White and John O’Connor.

Deputy general counsel Michael Shaw led the Barclays team.