Simpson Thacher represented Mars, Incorporated (“Mars”) in connection with its inaugural Rule 144A/Regulation S offering of $5 billion of senior notes, consisting of $600 million in aggregate principal amount of 2.7% Notes due 2025, $700 million in aggregate principal amount of 3.2% Notes due 2030, $600 million in aggregate principal amount of 3.6% Notes due 2034, $700 million in aggregate principal amount of 3.875% Notes due 2039, $300 million in aggregate principal amount of 3.95% Notes due 2044, $900 million in aggregate principal amount of 3.95% Notes due 2049, $500 million in aggregate principal amount of 4.125% Notes due 2054 and $700 million in aggregate principal amount of 4.2% Notes due 2059. Mars intends to use the proceeds of the offering to repay all of its outstanding borrowings under its short-term loan facility and a portion of its outstanding borrowings under its revolving credit facility. Any remaining proceeds will be used for general corporate purposes.
Mars is one of the world’s largest privately held, family-owned businesses with a history of over 100 years and a global leader in petcare, chocolate, gum and confections.
The Simpson Thacher team included Kenneth Wallach, Eva Kang, Katharine Thompson, Jessica Jeong and Matt Petrone (Capital Markets); Jonathan Cantor and Sarah Julian Duffy (Tax); Genevieve Dorment (Intellectual Property); Larry Moss and Pasco J. Struhs (Executive Compensation and Employee Benefits); and Michael Isby (Environmental).