News & Events

The Firm recently represented Barclays Capital Inc., J.P. Morgan Securities LLC and RBS Securities Inc. as joint bookrunners for an offering by Roche Holdings, Inc. of $1 billion principal amount of notes, guaranteed by Roche Holding Ltd.  The Firm also represented J.P. Morgan Securities LLC as dealer-manager for Roche’s related debt tender offer.

The offering consisted of the issuance of U.S. $650,000,000 aggregate principal amount of 4.00% notes due 2044 and an offering of an additional U.S. $350,000,000 aggregate principal amount of its existing 3.35% notes due 2024. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933.  

Roche used the net proceeds from the offering for general corporate purposes, including the settlement of its tender offer for 7.00% Notes due 2039 issued by Roche Holdings, Inc. and 5.25% Senior Notes due 2035 issued by Roche’s subsidiary, Genentech.

The Roche Group is a leading international research-focused healthcare group which operates in more than 150 counties. Based on 2013 sales, the Roche Group was among the world’s largest producers of pharmaceuticals and was the world’s leading supplier of in vitro diagnostics.   

The Simpson Thacher team for the offering included Mark Brod, Nicolas Wehrli and Vanessa Tisci (Capital Markets - London); and Meredith Jones and Taylor Alexander (Tax) and for the tender offer included John Lobrano and Gabriela Botifoll (Capital Markets – New York); and Jon Cantor and Taylor Alexander (Tax—New York).