Shearman & Sterling has advised French chemicals company Rhodia S.A on the sale of its new US$400 million 6.875% bonds due in 2020.

Rhodia employs around 13,600 people worldwide and is listed on Euronext Paris. With the proceeds of the sale the company intends to finance the partial redemption of some of its outstanding bonds due in 2013.

The Shearman & Sterling team of lawyers in the firm’s London, Paris, Frankfurt and New York offices included capital markets partner Bertrand Sénéchal and finance partner Mei Lian. They were assisted by associates Cedric Van den Borren, Regis Henry, Rob Beard, Simon Weiss and Vieri Parigi.