Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a 144A/Regulation S offering of US$1.5 billion aggregate principal amount of 7.000% Senior Notes due 2032 (the “Notes”) by Fortescue Treasury Pty Ltd, an Australian corporation (the “Issuer”) and a direct wholly owned subsidiary of Fortescue Ltd., an Australian corporation (“Fortescue”). The Notes are guaranteed by Fortescue. The Issuer intends to use the net proceeds from the offering of the Notes for general corporate purposes. Since 2011, Simpson Thacher has represented the initial purchasers in over US$12 billion of debt issuances by the Issuer.
Founded in 2003, Fortescue is one of the world’s lowest-cost iron ore producers and is the fourth largest producer of seaborne iron ore globally, operating in the Pilbara region in Western Australia. Fortescue is listed on the Australian Securities Exchange.
The Simpson Thacher team included David Azarkh, Brian Rosenzweig, Maggie Selbe, Ethan McGinty and Imran Hyder (Capital Markets); Michael Mann and Michael Slomovics (Tax); Mike Isby (Environmental); Abram Ellis and Christine Tillema (Regulatory); Pasco Struhs and Allison Sutherland (Executive Compensation and Employee Benefits); Kate Mirino and Tally Smitas (Intellectual Property); and Jennie Getsin (Blue Sky).