Steel Dynamics, Inc.’s $400 Million Senior Notes Offering and Related Tender Offer

Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC as joint book-running managers, and Fifth Third Securities, Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC as co-managers, in connection with a Rule 144A/Regulation S offering by Steel Dynamics, Inc. (the “Company”) of $400 million aggregate principal amount of 5.000% senior notes due 2026. The senior notes are guaranteed by certain subsidiaries of the Company.

Shearman & Sterling also represented Merrill Lynch, Pierce Fenner & Smith Incorporated as sole dealer manager in connection with the Company’s related cash tender offer for any and all of its 5.125% senior notes due 2019.

Steel Dynamics, Inc. is one of the largest steel producers and 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 Kyungwon Lee (Picture) (New York-Capital Markets), Merritt Johnson (New York-Capital Markets), Doreen Lilienfeld (New York-Compensation, Governance & ERISA) and Kristen Garry (Washington, DC-Tax); counsel Jeff Salinger (New York-Real Estate); and associates Minsoo Kwon (New York-Capital Markets), Yoon-jee Kim (New York-Capital Markets), Fabio Pazzini (New York-Corporate Group), Taylor Montgomery (New York-Corporate Group), Nell Beekman (New York-Compensation, Governance & ERISA), Adam Sternberg (New York-Tax).

Involved fees earner: Kyungwon Lee – Shearman & Sterling; Merritt Johnson – Shearman & Sterling; Minsoo Kwon – Shearman & Sterling; Yoon-jee Kim – Shearman & Sterling; Doreen Lilienfeld – Shearman & Sterling; Nell Beekman – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Adam Sternberg – Shearman & Sterling; Jeffrey Salinger – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Goldman, Sachs & Co.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Morgan Stanley; Wells Fargo; JP Morgan Securities; Fifth Third Securities, Inc.; SunTrust Robinson Humphrey, Inc.; PNC Capital Markets LLC;


Author: Michael Patrini