Albemarle Corporation’s $1.7 Billion Senior Notes Offering

K&L Gates advised Albemarle Corporation on the offering. Cravath, Swaine & Moore advised the underwriters.

Albemarle Corporation (NYSE: ALB) executed its $1.7 billion public offering of senior notes consisting of (i) $650,000,000 of 4.650% senior notes due 2027, (ii) $600,000,000 of 5.050% senior notes due 2032, and (iii) $450,000,000 of 5.650% senior notes due 2052. A portion of the net proceeds from the offering will to be used to fund a redemption of the company’s outstanding 4.15% senior notes due 2024 in early June.

Albemarle intends to use the remaining net proceeds of the offering for general corporate purposes, including the repayment of outstanding commercial paper notes.

The underwriters included BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, HSBC Securities (USA) Inc., MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., U.S. Bancorp Investments, Inc., Goldman Sachs & Co. LLC, Santander Investment Securities Inc., Truist Securities, Inc. and Siebert Williams Shank & Co., LLC.

Albemarle Corporation is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. The company creates value-added and performance-based solutions that enable a safer and more sustainable future.

Led by Charlotte partner Sean Jones (Picture), the K&L Gates deal team included Boston partner Bella Zaslavsky, Charlotte partner Coleman Wombwell, and Charlotte associates Marissa Barbalato and Alden Glass. Pittsburgh partner Stephen Barge provided tax advice and Boston partner Todd Gibson advised on Investment Company Act matters.

The Cravath team included partners William V. Fogg and Michael E. Mariani and associates Joseph A. Marshall and Ahra Cho.

Involved fees earner: Ahra Cho – Cravath Swaine & Moore; William Fogg – Cravath Swaine & Moore; Michael Mariani – Cravath Swaine & Moore; Joseph Marshall – Cravath Swaine & Moore; Marissa Barbalato – K&L Gates; Stephen Barge – K&L Gates; Todd Gibson – K&L Gates; Alden Glass – K&L Gates; Sean Jones – K&L Gates; Coleman Wombwell – K&L Gates; Bella Zaslavsky – K&L Gates;

Law Firms: Cravath Swaine & Moore; K&L Gates;

Clients: Albemarle Corporation; Bank of America Securities; Goldman Sachs & Co.; HSBC Securities (USA) Inc.; J.P. Morgan Securities LLC; Mizuho Securities; MUFG Securities Americas Inc. ; Santander Investment Securities Inc.; Siebert Williams Shank & Co. LLC; SMBC Nikko Securities America; Truist Securities Inc. ; U.S. Bancorp Investments;