Simpson Thacher Represents Underwriters in Offerings of Senior Notes and Senior Convertible Notes by United States Steel Corporation
03.29.13
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Simpson Thacher represented J.P. Morgan Securities LLC, Barclays Capital Inc., Goldman, Sachs & Co. and Morgan Stanley & Co. LLC, in offerings by United States Steel Corporation of (i) $275 million aggregate principal amount of 6.875% Senior Notes due 2021 and (ii) $316.25 million aggregate principal amount of 2.75% Senior Convertible Notes due 2019 (including $41.25 million aggregate principal amount related to the underwriters’ over-allotment option, which was exercised in full). United States Steel used the proceeds of the offerings, along with cash, to repurchase approximately $541.9 million aggregate principal amount of outstanding indebtedness.
United States Steel is an integrated steel producer with major production operations in the United States, Canada and Central Europe.
The Simpson Thacher team included Andy Keller, Roxane Reardon, Brian E. Rosenzweig, Frank Kwok and Randy Benjenk (Capital Markets); Marcy Geller, Jonathan Cantor and Jodi Sackel (Tax); Michael Isby (Environmental); Jeanne Annarumma (Executive Compensation and Employee Benefits) and Jennie Getsin (FINRA and Blue Sky).