Weir Group $800 million senior debt offering and cash tender offers

Davis Polk advised the representatives of several initial purchasers in connection with a Rule 144A / Regulation S offering by Weir Group Inc. of $800 million aggregate principal amount of 5.35% senior unsecured notes due 2030, fully and unconditionally guaranteed by The Weir Group PLC and Weir Group (Australian Holdings) Pty Limited.

Davis Polk also advised the dealer managers in connection with a concurrent cash tender offer by The Weir Group PLC for any and all of its outstanding $800 million 2.200% sustainability-linked notes due 2026.

In addition, we advised the joint dealer managers in connection with a capped cash tender offer by The Weir Group PLC for its £300 million 6.875% sustainability-linked notes due 2028. The net proceeds of the notes offering were used first to fund the tender offer for the dollar-denominated notes and to pay related fees and expenses, with the remainder used to fund the tender offer for the pound-denominated notes and for general corporate purposes.

The Weir Group is a leading global mining technology business which designs, manufactures and supports highly engineered equipment with market-leading positions across the extraction, comminution, processing and tailings stages of the mining process. Founded in 1871 and headquartered in Glasgow, Scotland, The Weir Group operates in every major mining region in the world. Its large installed base of original equipment is served by a comprehensive global service network, which includes regional manufacturing plants and local service facilities, in more than 50 countries.

The Davis Polk corporate team included partners Reuven B. Young and Leo Borchardt, counsel Christopher Diel and associate Tanu Sinha. Counsel John Taylor and associate Mary Valtas provided English law advice. Partner Dominic Foulkes, counsel Alon Gurfinkel and associates Samantha Wilson and Ya Sheng Lin provided tax advice. All members of the Davis Polk team are based in the London office.