Shearman & Sterling represented the dealers, led by NatWest Markets Securities and J.P. Morgan, as arrangers, in connection with the update of NatWest Markets Plc’s $10 billion U.S. medium-term note program (the “Program”). Shearman & Sterling also represented the dealers, led by NatWest Markets Securities, in connection with a subsequent drawdown of $1.0 billion of 2.375% Senior Notes due 2023 under the Program.

Shearman & Sterling secured a victory for GNOME Foundation (GNOME), a pro bono client, in a patent infringement suit filed by Rothschild Patent Imaging (RPI). In the walk-away settlement, GNOME received a release and covenant not to be sued for any patent held by RPI. In addition, the Shearman team secured a covenant and release on the Rothschild patent portfolio (more than 100 patents) for everyone in the world for the use of all open source software licenses (as approved by the Open Source Initiative). 

As companies and governments continue to grapple with new challenges resulting from the COVID-19 pandemic, the need for practical legal advice and compliance guidance is more important than ever.

The Lawyers Council for Civil and Economic Rights of the Cyrus R. Vance Center for International Justice of the New York City Bar published a report titled “Corruption in Times of COVID-19: A Regional Perspective on Public Procurement.” The work on the report was completed on a pro bono basis by the participating law firms.

Shearman & Sterling represented the initial purchasers led by Deutsche Bank AG, London Branch, Deutsche Bank Aktiengesellschaft, HSBC Bank plc, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc in onnection with an offering of €850 million aggregate principal amount of 0.375 percent senior notes due 2026 and €850 million aggregate principal amount of 0.750 percent senior notes due 2030 by Reckitt Benckiser Treasury Services (Nederland) B.V. and of £500 million aggregate principal amount of 1.750 percent senior notes due 2032 by Reckitt Benckiser Treasury Services plc. The senior notes were guaranteed by Reckitt Benckiser Group plc (Reckitt Benckiser). The transaction closed on May 19, 2020.

Shearman & Sterling advised the underwriters (led by BNP Paribas, Crédit Agricole CIB, Goldman Sachs & Co. LLC, J.P. Morgan and Société Générale) on ArcelorMittal’s offerings of $1.25 billion aggregate principal amount of 5.50 percent mandatorily convertible subordinated notes due 2023 and $750 million of ordinary shares, with total aggregate gross proceeds from the offerings amounting to approximately $2 billion.