The Firm represented the underwriters, led by Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, in connection with a registered public offering of $250 million of 4.250% Notes due 2018 by Snap-on Incorporated.
The net proceeds from the offering will be used for general corporate purposes, including for working capital, capital expenditures, repayment of indebtedness, financing of receivables related to its financing subsidiary and possible future acquisitions.
The Firm had previously represented the underwriters in public offerings of $250 million and $300 million of debt securities by Snap-on Incorporated in February 2009 and August 2009, respectively.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for industrial and commercial customers, including customers in the automotive repair industry.
The Simpson Thacher team for the debt offering included, among others, Glenn M. Reiter, Elsa Wang and Eric Gyasi (Capital Markets), Jonathan Cantor and Danny Salinas (Tax), Adeeb Fadil (Environmental), Mindy Lok (Intellectual Property), Jennie Getsin (Blue Sky) and Nicole Annunziato (Paralegal).