Shearman & Sterling Represents ArcelorMittal on $605 Million Sale of Skyline Steel and Astralloy Business to Nucor Corporation

Shearman & Sterling is advising ArcelorMittal on the sale of its steel foundation distribution business in the US, Canada, Mexico and the Caribbean—Skyline Steel and Astralloy—to Nucor Corporation for approximately $605 million. The sale is expected to be complete by the end of June 2012 pending competition clearance and other customary closing conditions.

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SEC Veteran Bruce R. Kraus Joins Kelley Drye

Kelley Drye & Warren LLP is pleased to announce that noted corporate lawyer Bruce R. Kraus is joining the partnership today. Mr. Kraus left private practice in 2009 to join the staff of the Securities and Exchange Commission at a senior level, where he focused on rulemaking and related economic and litigation matters. At Kelly Drye, he will offer his expertise in mergers, acquisitions, joint ventures, capital markets transactions and corporate restructurings, as well as his particular knowledge of recent developments in securities law.

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Tags:  Kelley Drye & Warren LLP | New York

Shearman & Sterling Advises on Refinancing Transactions for Arch Coal

Shearman & Sterling advised Bank of America, N.A. as term loan administrative agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated, PNC Capital Markets LLC, Morgan Stanley Senior Funding, Inc., Citigroup Global Markets Inc., RBS Securities Inc., BMO Capital Markets Corp. and Union Bank of California, N.A. as joint lead arrangers and joint bookrunners in connection with a $1.4 billion senior secured term loan for Arch Coal, Inc. (the “Company”).

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Shearman & Sterling Advises Lecta S.A. on Corporate Reorganization and €670 Million Refinancing

Shearman & Sterling advised Lecta S.A., a CVC portfolio company, on its reorganisation and its refinancing, comprising a high yield bond issuance of €390 million Floating Rate Senior Secured Notes due 2018 and €200 million 8⅞% Senior Secured Notes due 2019 and a new €80 million Revolving Credit Facility. As part of the refinancing, Lecta S.A. settled an exchange for its previously outstanding Senior Secured Floating Rate Notes due 2014, of which €340,654,000 was tendered in exchange for new Floating Rate Senior Secured Notes due 2018. The transaction involved a significant corporate reorganization of the Lecta group to rationalize the group structure.

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