U.S. Steel’s $350 Million Senior Convertible Notes Offering


Simpson Thacher represented the initial purchasers, led by Goldman Sachs & Co. LLC and Barclays Capital Inc., in connection with the offering.

United States Steel Corporation issued $350 million of unregistered Senior Convertible Notes due 2026, which included $50 million in aggregate principal amount of notes from the full exercise by the initial purchasers of their option to purchase additional notes.

U.S. Steel intends to use the net proceeds from the offering for general corporate purposes, including, without limitation, for previously announced strategic investments and capital expenditures.

U.S. Steel is an integrated steel producer with operations in the United States and Central Europe.

The Simpson Thacher team included Art Robinson (Picture), Roxane Reardon, Patrick Baron, Jean Park and Stephanie Rowan (Capital Markets); Marcy Geller and Nicole Humphrey (Tax); Elisa Alcabes and Shanice Hinckson (Asbestos); Jeanne Annarumma and Monisha Bhayana (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Corina McIntyre (Intellectual Property); Andrew Pagliughi (Blue Sky); and Andrew Kofsky (Labor).

Involved fees earner: Elisa Alcabes – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; Patrick Baron – Simpson Thacher & Bartlett; Monisha Bhayana – Simpson Thacher & Bartlett; Marcy Geller – Simpson Thacher & Bartlett; Shanice Hinckson – Simpson Thacher & Bartlett; Nicole Humphrey – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Jean Park – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Stephanie Rowan – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Barclays Capital ; Goldman Sachs & Co.;