Simpson Thacher Represented Initial Purchasers in Sale of $1.5 Billion Senior Notes by FMG Resources (August 2006) Pty Ltd
10.28.11
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Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBS Securities Inc., in the sale of an aggregate principal amount of $1.5 billion 8.25% Senior Notes due 2019 of FMG Resources (August 2006) Pty Ltd, an Australian corporation (“FMG”), and a direct wholly-owned subsidiary of Fortescue Metals Group Ltd (“Fortescue”), pursuant to Rule 144A and Regulation S. The notes are guaranteed by certain of Fortescue’s direct and indirect subsidiaries. The deal closed on October 28, 2011. FMG intends to use the net proceeds from the offering to expand its existing operations in the Chichester Hub, develop the Solomon Hub and build out its rail and port transportation infrastructure, and for general corporate purposes.
Fortescue is engaged in the exploration, development, production and export of iron ore in the Pilbara region of Western Australia. Fortescue is listed on the Australian Securities Exchange.
The Simpson Thacher team included Gary Sellers, David Azarkh and Seth Niedermayer (Capital Markets); Adam Wells (Tax); Timothy Mulvihill and Noreen Lavan (Environmental) and Jennie Getsin (Blue Sky).