Simpson Thacher Represents Initial Purchasers in $2.5 Billion Inaugural U.S. Bond Offering by Alimentation Couche-Tard
07.27.17
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Simpson Thacher represented the initial purchasers led by HSBC Securities (USA) Inc., MUFG Securities Americas Inc. and Wells Fargo Securities, LLC in connection with the inaugural U.S. bond offering by Alimentation Couche-Tard Inc. (“Couche-Tard”) of $1 billion aggregate principal amount of 2.7% Senior Notes due 2022, $1 billion aggregate principal amount of 3.55% Senior Notes due 2027 and $500 million aggregate principal amount of 4.5% Senior Notes due 2047 in reliance on Rule 144A and Regulation S. Couche-Tard intends to use the proceeds from the offering to repay a portion of the outstanding amounts under its senior credit facilities.
Couche-Tard is the leader in the Canadian convenience store industry. In the United States, Couche-Tard is the largest independent convenience store operator in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel in the Scandinavia countries (Norway, Sweden and Denmark), in the Baltic countries (Estonia, Latvia and Lithuania) and in Ireland, and also has an important presence in Poland.
The Simpson Thacher team included Risë Norman, Sung Bum Cho and Catherine Burns (Capital Markets); Sophie Staples and Deborah Plum (Tax); Adeeb Fadil and Louise Kruger (Environmental); Tristan Brown and Erin Murphy (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).