Simpson Thacher Represents Initial Purchasers in Debt Offering by Klöckner Investment S.C.A.
05.31.05
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Simpson Thacher represented initial purchasers led by JPMorgan and Barclays Capital in a Rule 144A / Regulation S offering of €260,000,000 10½% Senior Notes due 2015 by Klöckner Investment S.C.A., a wholly owned subsidiary of Klöckner & Co International GmbH ("Klöckner"), guaranteed by, among others, Klöckner. The offering was conducted to refinance Klöckner's mezzanine bank debt.
Klöckner is the largest independent multi-metal distributor in Europe with strong market positions in the United States and Canada. Klöckner distributes a wide variety of steel, aluminum and various related industrial products and provides a range of value-added services.
The Simpson Thacher corporate team who worked on the offering included Walt Looney and associates Nick Shaw, Ben Garcia and Adam Corndorf. Tax assistance was provided by Meredith Jones and Kurt Dudas, with Mark Lab assisting on Blue Sky.