The Firm recently represented Goldman Sachs, JPMorgan, Merrill Lynch and other underwriters in a first-time debt offering by Wm. Wrigley Jr. Company. Wrigley offered $500 million of 4.30% Senior Notes due 2010 and $500 million of 4.65% Senior Notes due 2015 under a “shelf” registration statement filed earlier in 2005.
Wrigley is a leading manufacturer of confectionary products, primarily chewing gum. Wrigley had net sales of approximately $3.6 billion, and net earnings of approximately $493.0 million, in 2004.
Recently, Wrigley completed the acquisition of non-chocolate confectionary assets, including candy sold under the Altoids and LifeSavers brands, from Kraft Foods Global, Inc. Wrigley used the proceeds from the debt offering primarily to repay commercial paper that had been issued to fund part of the purchase price paid in the Kraft transaction.
The Simpson Thacher team for the transaction consisted of, among others, Glenn M. Reiter, Jon R. Gray, Marianna Blanch, Veronique Laughlin, Nancy Mehlman (Tax) and Mark Lab (Blue Sky).