The Firm is a recognized leader in the area of equity-linked securities such as optionally or mandatorily convertible or exchangeable securities, regularly representing a broad range of underwriters and issuers in registered and Rule 144A offerings.  Many of these securities are highly complex and draw on the Firm’s expertise in tax, bankruptcy, ERISA and investment company regulation.  In 2007, Simpson Thacher completed 16 offerings of equity-linked securities, representing an aggregate principal amount of $9.5 billion.  See "Recent Equity-Linked Offerings" for a list of recent transactions.