Knowing Who's Involved In Rule 144A, Reg. S Offerings

Law360, New York (August 8, 2013, 6:08 PM EDT) -- Rule 144A (17 CFR 230.144A) and Regulation S debt offerings involve a team of representatives of the issuer, together with external advisors. External advisors for a securities offering will typically include one or more investment banks to serve as the initial purchasers/underwriters of the securities, an independent auditing firm, outside legal counsel for the issuer, and a trustee or paying agent.

The investment banks will also have their own outside counsel. Another important party in a Rule 144A/Regulation S offering is the Depository Trust Company, which...
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