Sherritt International Corporation Completes $90 Million Notes Purchase Transaction

Goodmans LLP represented Sherritt International Corporation in its $90 Million Notes Purchase Transaction Pursuant to Oversubscribed Offers.

In December 2022, Sherritt International Corporation completed its second notes purchase transaction of 2022, which together with its notes purchase transaction completed in June 2022, has resulted in a reduction of Sherritt’s aggregate principal amount of outstanding Notes by approximately $150 million, or 35% from the beginning of the year, and a reduction annual interest expense by approximately $13 million. The purchase offer in respect of the Sherritt’s secured notes was structured as a modified Dutch auction process, and the purchase offer in respect of Sherritt’s junior notes was structured as a fixed price tender offer.