Shearman & Sterling represented Companhia Siderúrgica Nacional (“CSN”) and its wholly owned subsidiary CSN Islands XI Corp in connection with a 144A/Regulation S offering of $750 million aggregate principal amount of 6.875% Notes due 2019 of CSN Islands XI Corp guaranteed by CSN. The proceeds of the offering will go toward repaying certain outstanding debt and general corporate purposes. CSN is one of the largest producers of steel in Latin America.

The following Shearman & Sterling attorneys advised on the transaction: partners Andrew Jánszky (São Paulo-Capital Markets/M&A), Robert Ellison (São Paulo-Capital Markets/M&A), Jeffrey Crandall (New York-Executive Compensation & Employee Benefits), Nathan Greene (New York-Asset Management), and Don Lonczak (New York-Tax); counsel Patricia Kuhn (New York-Executive Compensation & Employee Benefits); and associates Claudio Oksenberg (São Paulo-Capital Markets), Felipe Camara (New York-Capital Markets), Steve Homan (New York-Asset Management), and Matthew Tsiaras (Washington, D.C.-Tax).