Shearman And Sterling

News April 03, 2018

ABB’s $1.5 Billion Notes Offering

Shearman & Sterling advised the underwriters in connection with the $1.5 billion SEC-registered notes offering by ABB Finance (USA) Inc. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC acted as joint bookrunners for the offering. The notes were issued in three tranches, with maturities of two, five and 10 years, and are guaranteed by ABB Ltd, the Swiss parent company of ABB Finance (USA) Inc. The proceeds from the offering will be used for general corporate purposes, including to fund a portion of the purchase price of ABB’s pending acquisition of the Industrial Solutions business of General Electric. 

ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry, transport and infrastructure globally. ABB operates in more than 100 countries and has more than 135,000 employees.

The Shearman & Sterling team below was supported by Michelle Lee and Wangshu Tai (both New York-General Practice).

The Team