Ashurst has advised BlueScope Steel Limited ('BlueScope') on its on-market share buy-back of up to A$150 million of its shares, announced 20 February 2017.

The buy-back will be funded from free cash flow as part of the Boards target to return 30-50 per cent of free cash flow, including capital management, to shareholders. The buy-back will cease within 12 months from the date of the announcement.

The buy-back will assist BlueScope in achieving an appropriate balance between retaining strong credit metrics, will continue to fund growth opportunities and support the return of cash to shareholders.

The Ashurst team was led by partner Elspeth Arnold (Corporate), and included lawyer Richard Sletvold (Corporate); Partners Jock O'Shea and Jamie Ng, senior associate Kenneth Tang and lawyer Timon Ibrahim (Finance).