Shearman & Sterling has advised French chemicals company Rhodia S.A on its tender offer to buy back €500 million principal amount of its floating rate notes due 2013 and the concurrent offering of €500 million new 7% senior notes due 2018. Both transactions closed on May 10, 2010.

Commenting on the transaction, partner Bertrand Senechal said, "We were delighted to assist Rhodia extending its debt maturity profile under good market conditions." Partner Ward McKimm added, "It has been great for our team of lawyers in Paris and London to work with Rhodia again. We are proud that Rhodia has been our client since its creation in 1998."

The Shearman & Sterling team of lawyers in the firm’s London and Paris offices was led by capital markets partners Ward McKimm and Bertrand Senechal and finance partner Mei Lian. They were assisted by associates Cedric Van den Borren, Regis Henry, Alison Howell, Yumi Paringaux, Anne-Sophie Maes and Vieri Parigi.