Simpson Thacher Represents Underwriters in $850 Million Notes Offering for Kimberly-Clark Corporation
05.23.13
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The Firm represented the underwriters, led by Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, in connection with a registered offering by Kimberly-Clark Corporation (“Kimberly-Clark”) of notes in $850 million aggregate principal amount.
Kimberly-Clark issued $250 million aggregate principal amount of its Floating Rate Notes due May 15, 2016, $350 million aggregate principal amount of its 2.400% Notes due June 1, 2023 and $250 million aggregate principal amount of its 3.700% Notes due June 1, 2043. The net proceeds from the transaction will be used for general corporate purposes, including to repay its $500 million aggregate principal amount of 5% Notes due August 15, 2013.
Kimberly-Clark is principally engaged in the manufacturing and marketing of a wide range of essential products with brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend.
The Simpson Thacher team for the transaction included John Lobrano, Alex Coedo and Isaac Gruber (Capital Markets) and Jennie Getsin (FINRA and Blue Sky).