Shearman And Sterling

News June 30, 2020

Teck Resources’ $550 Million Notes Offering and Tender

Shearman & Sterling represented J.P. Morgan Securities LLC as global coordinator and joint book-running manager, BMO Capital Markets Corp., Goldman, Sachs & Co., Mizuho Securities (USA) LLC and RBC Capital Markets, LLC, as joint book-running managers, and ABN AMRO Securities (USA) LLC, Barclays Capital Inc., BNP Paribas Securities Corp., BofA Securities, Inc., CIBC World Market Corp., MUFG Securities Americas Inc., National Bank of Canada Financial Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC, as co-managers, on Teck Resources Limited’s $550 million Rule 144A/Regulation S private placement of 3.900 percent notes due 2030.

Teck used the net proceeds from the offering to fund its tender offers to purchase for cash up to $538.7 principal amount of its 4.500 percent notes due 2021, 4.75 percent notes due 2022 and 3.750 percent notes due 2023. Shearman & Sterling advised J.P. Morgan Securities LLC as dealer manager on these concurrent tender offers.

Teck is a diversified resource company headquartered in Vancouver, Canada that is committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy.

The Shearman & Sterling team below also included associate Reuben Dacher-Shapiro.

The Team