The Firm represented the underwriters, led by Barclays Capital, Citi, BofA Merrill Lynch and Goldman, Sachs, in a public offering of $350 million principal amount of 1.125% Notes due 2014 and $650 million principal amount of Floating Rate Notes due 2014 of Target Corporation.
The net proceeds of the offering are being used for general corporate purposes.
Target is a leading operator of large-format general merchandise discount stores in the United States. As of April 30, 2011, Target operated 1,755 stores in 49 states. Target also plans to open 100 to 150 stores in Canada, primarily during 2013.
The Simpson Thacher team for the transaction included, among others, Glenn M. Reiter, Kirsten L. Davis and Andre K. Gray (Capital Markets), Jonathan Cantor and Amie Broder (Tax), Jennie Getsin (Blue Sky) and Nicole Annunziato (Paralegal).