Simpson Thacher Represents Underwriters in $650 Million Senior Notes Offering and Dealer Managers in Tender Offer for U.S. Steel
03.19.18
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Simpson Thacher represented J.P. Morgan Securities LLC and the other underwriters in connection with United States Steel Corporation’s (“U.S. Steel”) offering of $650 million aggregate principal amount of 6.25% Senior Notes due 2026. U.S. Steel intends to use the net proceeds from the offering, together with cash on hand, to fund the repurchase of its 8.375% Senior Secured Notes due 2021 (the “2021 Senior Secured Notes”).
Simpson Thacher is also representing J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC as the dealer managers in connection with the concurrent tender offer to purchase for cash any and all of U.S. Steel’s outstanding 2021 Senior Secured Notes.
U.S. Steel is an integrated steel producer of flat-rolled and tubular products with major production operations in the United States and Europe.
The Simpson Thacher team included Andy Keller, Risë Norman, Patrick Baron and Eva Kang (Capital Markets); Mike Isby (Environmental); Jeanne Annarumma and Monisha Bhayana (Executive Compensation and Employee Benefits); Marcela Robledo and Amber Harezlak (Intellectual Property); Jonathan Cantor and John Torrenti (Tax); and Andrew Pagliughi (Blue Sky).