Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Sep 13, 2017

Shearman & Sterling Advises Initial Purchasers on Steel Dynamics’ $350 Million Senior Notes Offering and Related Tender Offer

Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith, J.P. Morgan Securities, Goldman Sachs & Co., Morgan Stanley & Co. and Deutsche Bank Securities as joint book-running managers, and BMO Capital Markets, PNC Capital Markets, U.S. Bancorp Investments and Wells Fargo Securities as co-managers, in connection with a Rule 144A/Regulation S $350 million senior notes offering by Steel Dynamics (the “Company”). The senior notes pay interest at a rate of 4.125% due 2025 and are guaranteed by certain subsidiaries of the Company.

Shearman & Sterling also represented Merrill Lynch, Pierce Fenner & Smith as sole dealer manager in connection with the Company’s related cash tender offer for any and all of its 6.375% senior notes due 2022.

Steel Dynamics is one of the largest steel producers and one of the largest metal recyclers in the United States based on the Company’s current estimated annual steelmaking capability and actual recycling volumes.

The Shearman & Sterling team included partners Merritt Johnson (New York-Capital Markets) and Kristen Garry (Washington D.C.-Tax); counsel Mehran Massih (London-Real Estate); associates Yaw Asare Yoon-jee Kim (both New York-Capital Markets), Taylor Montgomery (New York-Corporate Group) and Adam Sternberg (New York-Tax).