The Firm represented Citi, Goldman, Sachs & Co., J.P. Morgan, BofA Merrill Lynch, RBS and Wells Fargo Securities and other underwriters in connection with a $5.0 billion offering of debt securities by Wal-Mart Stores, Inc.
Wal-Mart offered $1.0 billion of 1.625% Notes due 2014, $1.0 billion of 2.800% Notes due 2016, $1.0 billion of 4.250% Notes due 2021 and $2.0 billion of 5.625% Notes due 2041. The net proceeds from the offering will be used for general corporate purposes.
Wal-Mart is the world’s largest retailer, with total net sales of $419.0 billion in its fiscal year ended January 31, 2011.
The Simpson Thacher team for the debt offering included, among others, Glenn M. Reiter, Dov Gottlieb and Rohith Parasuraman (Capital Markets), Jonathan Cantor and Andrew Purcell (Tax) and Jennie Getsin (Blue Sky).