Simpson Thacher represented J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and the other initial purchasers in connection with United States Steel Corporation’s (“U.S. Steel”) Rule 144A and Regulation S offerings of $980 million aggregate principal amount of 8.375% Senior Secured Notes due 2021. U.S. Steel intends to use the net proceeds from the offering for the repayment of outstanding debt, focusing on near-term maturities and any remaining proceeds for general corporate purposes.
U.S. Steel is an integrated steel producer with major production operations in North America and Central Europe. U.S. Steel manufactures a wide range of value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction, and oil and gas industries.
The Simpson Thacher team included Andy Keller, Patrick Baron, Daniel Areshenko and Michael Milano (Capital Markets); Soogy Lee and Brian Novell (Banking and Credit); Mike Isby (Environmental); Krista McManus and Dennis Loiacono (Real Estate); Jeanne Annarumma and Holly Gurian (Executive Compensation and Employee Benefits); Marcela Robledo and Amber Harezlak (Intellectual Property); Jonathan Cantor and George Davis (Tax); Janet Nadile and Jonathan Pall (Collateral); and Andrew Pagliughi (Blue Sky).