Simpson Thacher Represents Initial Purchasers in Connection with Mirabela Nickel Limited’s $395 Million Senior Notes Offering
04.21.11
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The Firm represented J.P. Morgan Securities LLC and Barclays Capital Inc. as initial purchasers in connection with the Rule 144A and Regulation S offering of $395 million aggregate principal amount of 8.75% Senior Notes due 2018 by Mirabela Nickel Limited (“Mirabela”). The net proceeds from the offering will be used to pay down Mirabela’s existing debt, to make prepayments in connection with the termination of certain commodity call options and existing hedging arrangements, to provide general working capital and for general corporate purposes.
Mirabela is engaged in the mining, production and export of nickel concentrate. Its principal asset is the Santa Rita open pit nickel sulphide mine and concentration plant located in Bahia, Brazil.
The Simpson Thacher team for this transaction included: Gary Sellers, Xavier Kowalski, Jennifer Chen and Matthew Reichstein (Capital Markets), Danny Salinas (Tax) and paralegal Yacoba Annobil.