Simpson Thacher Represents Underwriters in $1 Billion Notes Offering and Related Tender Offer by Smithfield Foods, Inc.
08.01.12
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Simpson Thacher represented the underwriters, led by Barclays Capital Inc. and Goldman, Sachs & Co., in connection with the issuance by Smithfield Foods, Inc. of $1.0 billion aggregate principal amount of 6.625% Senior Notes due 2022. Smithfield will use part of the proceeds from the offering to fund its tender offer for any and all of its 7.75% Senior Notes due 2013 and any and all of its 10% Senior Secured Notes due 2014 (the “2014 Notes”) and the redemption of any 2014 Notes not tendered pursuant to the tender offer. The Firm is representing Goldman, Sachs & Co. and Barclays Capital Inc., as dealer managers, in connection with the tender offer. The offering closed on August 1, 2012. The tender offer is expected to close on August 14, 2012.
Smithfield is a $13 billion global food company and the world's largest pork processor and hog producer.
The Simpson Thacher team working on these transactions includes Art Robinson, John Lobrano, Patrick Baron, Julia Gaffin, Lauren Yoon, Megan Vasios, Allan Chorny and A. Reid Monroe-Sheridan (Capital Markets), Jonathan Cantor and Danny Salinas (Tax), Adeeb Fadil (Environmental), Marcela Robledo and Emiko Kurotsu (Intellectual Property) and Jennie Getsin (FINRA and Blue Sky).