News & Events

Simpson Thacher represented the underwriters, led by Credit Suisse, Deutsche Bank, The Royal Bank of Scotland and Société Générale, in connection with registered public offerings by Mondelēz International, Inc. (formerly known as Kraft Foods Inc.) of euro-denominated notes and sterling-denominated notes to be listed on the New York Stock Exchange. Mondelēz offered €500 million of 1% Notes due 2022, €750 million of 1.625% Notes due 2027, €750 million of 2.375% Notes due 2035 and £450 million of 3.875% Notes due 2045. The offerings closed on March 6, 2015.

Mondelēz used the net proceeds from the issuance of the notes to fund a cash tender offer for approximately US$2.5 billion aggregate principal amount of its 6.5% Notes due 2040, 6.5% Notes due 2031, 5.375% Notes due 2020, 7% Notes due 2037, 6.875% Notes due 2038, 6.875% Notes due 2039, 6.5% Notes due 2017, 6.125% Notes due August 2018, 6.125% Notes due February 2018 and 4.125% Notes due 2016. Simpson Thacher represented the dealer managers, led by BofA Merrill Lynch, J.P. Morgan and Goldman, Sachs & Co., in connection with the tender offer.

Mondelēz is one of the world’s largest snack companies with global net revenues of $34.2 billion in 2014. The company’s portfolio includes billion-dollar brands such as LU, Nabisco and Oreo biscuits; Cadbury, Cadbury Dairy Milk and Milka chocolates; Trident gum; Jacobs coffee and Tang powdered beverages.

For the notes offerings, the Simpson Thacher team included Andy Keller, Teresa Chen and Jessica Asrat (Capital Markets); Jonathan Cantor and Taylor Alexander (Tax); Genevieve Dorment (Intellectual Property); and Jennie Getsin (Blue Sky).

For the tender offer, the Simpson Thacher team included John Lobrano and Katerina Kousoula (Capital Markets); and Jonathan Cantor and Taylor Alexander (Tax).