The Firm represented the underwriters, led by Goldman, Sachs & Co., Morgan Stanley, RBS and Scotiabank, in connection with a public offering by Altria Group, Inc. of $1.4 billion aggregate principal amount of its 4.000% Notes due 2024 and $1.8 billion aggregate principal amount of its 5.375% Notes due 2044. The offering closed on October 31, 2013.
Altria intends to use the net proceeds from the issuance of the notes for the repurchase of its notes to be purchased pursuant to a tender offer of up to $2,000,000,000 aggregate principal amount of its 9.700% Notes due 2018, its 9.250% Notes due 2019, its 9.950% Notes due 2038 and its 10.200% Notes due 2039, and other general corporate purposes. The Firm is representing the dealer managers, led by Deutsche Bank Securities, Goldman, Sachs & Co. and RBS, in connection with the tender offer.
Altria is the parent company of Philip Morris USA and John Middleton. Altria also indirectly owns U.S. Smokeless Tobacco Company and Ste. Michelle Wine Estates and has a continuing economic and voting interest in SABMiller.
The Simpson Thacher team included Edward P. Tolley, III, John Lobrano, Joia Lee, Jason Pearl and Kara Sharkey (Capital Markets); Mike Isby (Environmental), Jonathan Cantor and Jodi L. Sackel (Tax); Jamin R. Koslowe (Executive Compensation and Employee Benefits); Marcela Robledo and Michelle Morad (Intellectual Property); and Jennie Getsin (Blue Sky).