Simpson Thacher Represents Underwriters in $5.0 Billion Debt Offering by Wal-Mart
04.11.13
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The Firm represented Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC and other underwriters in connection with a $5.0 billion offering of debt securities by Wal-Mart Stores, Inc.
Wal-Mart offered and sold $1.0 billion of its 0.600% Notes due 2016, $1.25 billion of its 1.125% Notes due 2018, $1.75 billion of its 2.550% Notes due 2023 and $1.0 billion of its 4.000% Notes due 2043. 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 $466.1 billion in its fiscal year ended January 31, 2013.
The Simpson Thacher team for the debt offering included, among others, John D. Lobrano, Daniel Bae and Jihyun Chung (Capital Markets), Jonathan Cantor and Andrew Purcell (Tax) and Jennie Getsin (Blue Sky).