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News May 14, 2015

Shearman & Sterling Advises Anglo American on $1.5 Billion Notes Offering

Shearman & Sterling advised Anglo American plc in an offering of $850 million 3.625% Senior Notes due 2020 and $650 million 4.875% Senior Notes due 2025. The notes were issued by Anglo American Capital plc and guaranteed by Anglo American plc. The issuance was carried out by way of a private placement to institutional investors only (including in the United States pursuant to Rule 144A). Settlement of the notes took place on May 14, 2015.

Anglo American is one of the world's largest mining companies, is headquartered in the UK and is listed on the London and Johannesburg stock exchanges. It is a constituent of the FTSE 100 Index. Anglo American's portfolio of mining businesses spans bulk commodities -- iron ore and manganese, metallurgical coal and thermal coal; base metals -- copper and nickel; and precious metals and minerals -- in which it is a global leader in both platinum and diamonds.

The Shearman & Sterling team was led by partner Richard Price and included associates Jonathan Handyside and Rainer Adlhart (all London-Capital Markets), as well as partner James Duncan and associate Sara Couling (both London-Finance) and associate Brian Butterwick (London-Mergers & Acquisitions). Counsel Mehran Massih advised on environmental law aspects of the transaction. Partner Kristen Garry and associate Judy Fisher (both Washington, DC-Tax) advised on US tax aspects of the transaction, while counsel Simon Letherman and trainee solicitor Lois Howarth advised on UK tax aspects. Legal assistants Angeliki Cheimona and Francesca Minoretti (London-Capital Markets) and trainee solicitor Brook Geremew (London-Finance) also assisted on the transaction.