Western Europe | Emerging Europe | Asia | Latin America
Best equity deal
Dominion Resources
Type of deal: Follow-on equity offering
Deal size: $621 million ($680 million with greenshoe)
Date: May 2003
Underwriter: Lehman Brothers
Rival bankers were astounded at the terms Lehman Brothers offered to win the mandate for Dominion Resources’ follow-on equity deal. “It sounded crazy at the time,” says one banker. “They were charging less than $900,000 to take on $620 million of risk. We were scratching our heads trying to work out what angle they had.
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