Simpson Thacher Represents the Underwriters in $800 Million Floating Rate Notes Offering by Kraft Foods Inc.
01.10.12
This is only gets display when printing
The Firm recently represented the underwriters, led by Citigroup, RBS, Barclays Capital, Goldman, Sachs & Co. and J.P. Morgan, in the public offering of $800 million of floating rate notes due 2013 of Kraft Foods Inc. (“Kraft”). The notes must be redeemed before Kraft spins off its North American grocery business.
Kraft is the world’s second largest food company with revenues of $49.2 billion in 2010. At December 31, 2010, Kraft’s portfolio included eleven brands with annual revenues exceeding $1.0 billion each: Oreo, Nabisco and LU biscuits; Milka and Cadbury chocolates; Trident gum; Jacobs and Maxwell House coffees; Philadelphia cream cheeses; Kraft cheeses, dinners and dressings; and Oscar Mayer meats. Kraft’s portfolio includes approximately 70 brands which each generate annual revenues of more than $100 million.
The Simpson Thacher team for the transaction included Andy Keller, Brian E. Rosenzweig and Darwon Choe (Capital Markets); Jonathan Cantor and Adam Wells (Tax); and Jennie Getsin (FINRA).