James Hardie’s €400 Million Notes Offering

Shearman & Sterling advised HSBC, BofA Merrill Lynch, Wells Fargo Securities, Commonwealth Bank of Australia and US Bancorp as joint book-running managers on James Hardie’s inaugural euro-denominated offering of €400 million 3.625% senior notes due 2026.

The offering closed on October 4, 2018. The proceeds of the offering will be used for (i) the repayment of all of the outstanding borrowings under James Hardie’s 364-day term loan facility and (ii) to pay related fees and expenses.

James Hardie is a leading global manufacturer and marketer of fiber cement products, including sidings and backerboard. Its fiber cement products are used in a number of markets, including new residential construction, manufactured housing, repair and remodeling and a variety of commercial and industrial applications. James Hardie’s key geographic markets include North America, Australia, parts of Europe, New Zealand and the Philippines.

Shearman & Sterling advised advised the joint book-running managers on the offering with a team including Marwa Elborai (Picture), Kalliope Kefallinos, Fabio Pazzini, Kristen Garry, Daniel Kachmar, Simon Letherman, Doreen Lilienfeld and Mehran Massih.

Involved fees earner: Marwa Elborai – Shearman & Sterling; Kalliope Kefallinos – Shearman & Sterling; Fabio Pazzini – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Doreen Lilienfeld – Shearman & Sterling; Mehran Massih – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Bank of America Merrill Lynch; HSBC; Commonwealth Bank of Australia; US Bancorp; Wells Fargo Securities;