The Firm recently represented Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and the other underwriters in connection with a $6 billion offering of debt securities by WalMart Stores, Inc. Walmart offered and sold $300 million aggregate principal amount of its Floating Rate Notes due 2019, $1.2 billion aggregate principal amount of its 1.75% Notes due 2019, $1.25 billion aggregate principal amount of its 1.9% Notes due 2020, $1.25 billion aggregate principal amount of its 2.35% Notes due 2022, $1 billion aggregate principal amount of its 2.65% Notes due 2024 and $1 billion aggregate principal amount of its 3.625% Notes due 2047. The net proceeds from the offering were used to pay a portion of the purchase price for the securities subject to the concurrent tender offer by Walmart and for general corporate purposes.
The Firm also represented Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Wells Fargo Securities, BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays Capital Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Santander Investment Securities Inc., Standard Chartered Bank, U.S. Bancorp Investments, Inc., CastleOak Securities, L.P. and Samuel A. Ramirez & Company, Inc. as dealer managers in connection with a tender offer to purchase for cash up to $8.5 billion aggregate purchase price, including principal, premium and the applicable early participation amount, but excluding accrued interest, of Walmart’s 6.5% Notes due 2037, 6.2% Notes due 2038, 5.625% Notes due 2040, 5.625% Notes due 2041, 5% Notes due 2040, 4.875% Notes due 2040, 5.25% Notes due 2035, 4.75% Notes due 2043, 4.3% Notes due 2044, 4% Notes due 2043, 5.875% Notes due 2027, 4.125% Notes due 2019, and 3.625% Notes due 2020.
Walmart is the world’s largest retailer, with total net sales of $481.3 billion in its fiscal year ended January 31, 2017, and with over 11,600 stores under 59 banners in 28 countries and e-commerce websites in 11 countries.
The Simpson Thacher team included John D. Lobrano, Rodrigo Surcan dos Santos and Matt Craine (Capital Markets); Jonathan Cantor and Pierce Pandolph (Tax); and Andrew Pagliughi (FINRA and Blue Sky).