Shearman & Sterling advised HSBC, BofA Merrill Lynch, Wells Fargo Securities, Commonwealth Bank of Australia and US Bancorp as joint book-running managers on James Hardie’s inaugural euro-denominated offering of €400 million 3.625% senior notes due 2026.
The offering closed on October 4, 2018. The proceeds of the offering will be used for (i) the repayment of all of the outstanding borrowings under James Hardie’s 364-day term loan facility and (ii) to pay related fees and expenses.
James Hardie is a leading global manufacturer and marketer of fiber cement products, including sidings and backerboard. Its fiber cement products are used in a number of markets, including new residential construction, manufactured housing, repair and remodeling and a variety of commercial and industrial applications. James Hardie’s key geographic markets include North America, Australia, parts of Europe, New Zealand and the Philippines.
The Shearman & Sterling team below was supported by secondee Nkosinathi Tshabalal (London - Capital Markets), associate Eunjee Chae (London - Tax), associate Jake Glazeski (New York - Compensation, Governance & ERISA) and counsel Mehran Massih (London - Environmental).