Shearman & Sterling advised Barclays Bank PLC, Citigroup Global Markets Limited and HSBC in connection with Styrolution Group’s €480 million high yield bond offering.

Styrolution Group is a proposed joint venture between the BASF Group and the INEOS Industries Group but operated and financed on an independent basis. After giving pro forma effect to the joint venture transaction, Styrolution Group is positioned to be a leading global producer, marketer and merchant seller of styrenics (a type of plastic). In addition, Styrolution will be the second largest global producer of ABS plastics and the largest global producer of copolymers. With 19 manufacturing sites in 10 countries, Styrolution will be a geographically diversified, global player, positioned to benefit from growth in all major regions.

The Shearman & Sterling team of lawyers in the firm’s London, Frankfurt, Düsseldorf and New York offices was led by partners Jacques McChesney, Katja Kaulamo, Esther Jansen and Mei Lian and counsels Gabrielle Wong and Mehran Massih. They were assisted by associates Jonathan Handyside, Marwa Elborai, Ellen Sheils, Bodo Dehne and Giuseppe Sferrazza on the capital markets side and associates Odilo Wallner, Axel Korth and Monsiree Jirasarunya on the finance side. Partners Bernie Pistillo and Johannes Frey and associates Shiu-Kay Hung and Norbert Muckl advised on tax aspects of the offering.