Davis Polk advised Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC as joint book-running managers on an SEC-registered offering of $396.75 million aggregate principal amount of 1.75% convertible senior notes due 2032 of Stillwater Mining Company (which amount includes the full exercise of the over-allotment option).
Headquartered in Billings, Montana, Stillwater is the largest producer of platinum group metals, or PGMs, in North America and the only primary PGM producer in the United States. The company’s shares are traded on the New York Stock Exchange under the symbol “SWC.”
The Davis Polk team included partner Michael Kaplan and associates Sophia Hudson, Bin Hu and Alexa Taylor. Partners Mark M. Mendez and Ray Ibrahim and associates Barry J. Gewolb, Charles L. Nail and Carol Pang provided derivatives advice. Partners Lucy W. Farr and Harry Ballan and associates Rhiannon Nakano and Nicole P. Field provided tax advice. Partner Betty M. Huber and associate Catharine Thorpe provided environmental advice. Anney Chi was the legal assistant for the transaction. All members of the Davis Polk team are based in the New York office.
