Simpson Thacher Represents Morgan Stanley in $699 Million Common Stock Offering for U.S. Steel
02.08.21
This is only gets display when printing
Simpson Thacher represented Morgan Stanley & Co. LLC (“Morgan Stanley”) in connection with United States Steel Corporation’s (“U.S. Steel”) $699 million common stock offering. U.S. Steel intends to use the net proceeds of the offering to redeem 35% of its outstanding 2025 Senior Secured Notes and for general corporate purposes, which may include further repayment of its outstanding indebtedness. The offering closed on February 5, 2021.
U.S. Steel is an integrated steel producer of flat-rolled and tubular products with major production operations in the United States and Europe. According to the World Steel Association’s latest published statistics, in 2019 U.S. Steel was the third largest steel producer in the United States and the twenty-seventh largest steel producer in the world.
The Simpson Thacher team included Roxane Reardon, Patrick Baron, Stephanie Rowan, Ben Kloss and Jason Kitchen (Capital Markets); Mike Isby and Timothy Mulvihill (Environmental); Jeanne Annarumma (Executive Compensation and Employee Benefits); Lori Lesser, Corina McIntyre and Alysha Sekhon (Intellectual Property); Jonathan Cantor and Kris Liu (Tax); and Andrew Pagliughi (Blue Sky).