The Hershey Company Completes $600 Million Debt Offering
09.02.15
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Simpson Thacher represented The Hershey Company in an offering of $300 million aggregate principal amount of its 1.6% Notes due 2018 and $300 million aggregate principal amount of its 3.2% Notes due 2025. The proceeds of the offering were used to repay at maturity its $250 million aggregate principal amount of 4.85% Notes due 2015, to fund the purchase of up to $100 million aggregate purchase price of its outstanding 8.8% Debentures due 2021 and its outstanding 7.2% Debentures due 2027 that were validly tendered pursuant to a tender offer launched on August 11, 2015, and for general corporate purposes.
The Hershey Company is the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery.
The Simpson Thacher team for the transaction included Risë B. Norman, Alejandro de Ramon-Laca and Deborah Gruen (Capital Markets); Jonathan Cantor and Andrew B. Purcell (Tax); Michael R. Isby (Environmental); Larry Moss and Jennifer Pepin (Benefits); and Marcela Robledo (Intellectual Property).