Simpson Thacher Represents Underwriters in Wal-Mart Debt Offerings Totaling US$5.3 Billion in 2009 To Date
09.22.09
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The Firm has represented underwriters in five SEC-registered debt offerings for Wal-Mart Stores, Inc. in 2009 to date:
€1,000,000,000 of 4.875% Notes Due 2029 (which closed in September 2009); $500,000,000 of 6.200% Notes Due 2038 (which closed in July 2009); $1,000,000,000 of 3.20% Notes Due 2014 (which closed in May 2009); £1,000,000,000 of 5.625% Notes Due 2034 (which closed in March 2009); and $500,000,000 of 3.000% Notes Due 2014 and $500,000,000 of 4.125% Notes Due 2019 (which closed in January 2009). The lead underwriters for these offerings have varied, but have included most of the "bulge bracket" Wall Street firms. The net proceeds from these offerings totaled approximately $5.3 billion.
Wal-Mart is the world’s largest retailer, with total net sales of $401.2 billion in its fiscal year ended January 31, 2009.
The Simpson Thacher teams for the transactions have included, depending on the particular offering, Glenn M. Reiter, Robert Griffith, Dov Gottlieb and Sirimal Mukerjee (Capital Markets) and Jonathan Cantor (Tax).