Simpson Thacher Represents Underwriters in $900 Million Senior Notes Offering by Reliance Steel & Aluminum
08.04.20
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Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC, BofA Securities, Inc. and Wells Fargo Securities, LLC, in a registered offering of $400 million aggregate principal amount of 1.3% Senior Notes due 2025 and $500 million aggregate principal amount of 2.15% Senior Notes due 2030 by Reliance Steel & Aluminum Co. (“Reliance”).
Reliance intends to use the net proceeds from the offering to repay outstanding indebtedness under its revolving credit facility and term loan and for general corporate purposes.
Reliance is a leading global diversified metal solutions provider and the largest metals service center company in North America. Through a network of more than 300 locations in 40 states and thirteen countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
The Simpson Thacher team for the transaction included Mark Brod, Ben Massey and Tommy Garber (Capital Markets); Jennifer Neilsson (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Nancy Mehlman and Suzy Yaster (Tax); and Jennie Getsin (FINRA and Blue Sky).