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News Apr 30, 2015

Shearman & Sterling Advises on the Increase of the US/European Term Loan B Financing for the INEOS Group

Shearman & Sterling advised Barclays Bank PLC and J.P. Morgan Limited as joint global coordinators, lead arrangers and bookrunners, and Citigroup Global Markets Inc., Merrill Lynch Pierce Fenner & Smith Incorporated and Morgan Stanley Senior Funding, Inc. as co-arrangers and co-bookrunners in connection with the addition of an incremental senior secured term facility to its existing cross-border, multicurrency and covenant lite Term Loan B bank financing for certain affiliates of INEOS AG, one of the world's largest chemical companies by revenue. The proceeds of the additional loans have been used to, among other things, repay INEOS’s existing 2019 senior secured notes.

The Shearman & Sterling team was led by partners Maura O'Sullivan (New York-Finance) and Anthony Ward (London-Finance) and also included partners Winfried Carli (Frankfurt-Finance) and Malcolm Montgomery (New York-Real Estate); counsel Jackson Lam (London-Finance), Gabrielle Wong (London-Finance), Matthias Weissinger (Frankfurt-Finance), Philippe Wolanski (Paris-Finance), Lucy Keeble (London-Real Estate), Paul Balaam (London-Real Estate). and Joji Ozawa (London-Capital Markets); associates Maria Cornilsen (New York-Finance), Anna Shelton (London-Finance), Antonio Fusco (New York-Finance), John Hutton (London-Finance), Akofa Tsiagbe (London-Finance), Andreas Breu (Frankfurt-Finance), Laurent Bonnet (Paris-Finance), and Rebecca Lee (London-Real Estate); real estate specialist Todd Matthias (New York-Real Estate); and trainee solicitor Joelle Wong (London-Finance).