Shearman And Sterling

News November 17, 2021

Shearman & Sterling Advises on Sibanye Stillwater’s $1.2 Billion Bond Offering

Shearman & Sterling represented the initial purchasers, led by BofA Securities, Citigroup, J.P. Morgan and Morgan Stanley, as joint global coordinators and bookrunners on Sibanye Stillwater’s $1.2 billion senior notes offering. The senior notes were issued by Sibanye Stillwater’s subsidiary Stillwater Mining Company, and guaranteed by Sibanye Stillwater Limited and certain other of its subsidiaries.

The net proceeds of the senior notes offering will be used to redeem Sibanye Stillwater’s 2025 Notes, as well as general corporate purposes, including advancing Sibanye Stillwater’s green metals strategy through investments and accretive acquisitions and improving earnings diversification.

Sibanye Stillwater is a leading international mining company, with a diverse portfolio of assets including PGM operations and projects in the United States and Southern Africa, gold operations and projects in South Africa, and PGM, copper and gold exploration properties in North and South America. More recently, Sibanye Stillwater has advanced its strategic entry into the battery metal sector by acquiring interests in battery metal projects and facilities in Europe and the U.S.

The group is one of the world’s largest primary producers of platinum, palladium and rhodium along with other PGMs, and also a top tier gold producer, ranking twelfth globally among the gold producers and third globally on a gold-equivalent basis. Sibanye Stillwater’s shares are listed on the JSE in South Africa, and its ADSs are listed on the New York Stock Exchange.

The Shearman & Sterling team below included associates Silvia Montanya (London-Capital Markets), Michael Buiteweg (Dallas-Tax) and Anthony Roselle (New York-Real Estate).

The Team