The Firm represented the underwriters in connection with a registered public offering by Altria Group, Inc. (“Altria”) of $2 billion of its Notes, consisting of $750 million of its 2.35% Notes due 2025, $750 million of its 3.4% Notes due 2030 and $500 million of its 4.45% Notes due 2050. The offering closed on May 6, 2020.
Altria’s wholly owned subsidiaries include Philip Morris USA Inc. (PM USA), U.S. Smokeless Tobacco Company LLC (USSTC), John Middleton Co. (Middleton), Sherman Group Holdings, LLC and its subsidiaries (Nat Sherman), Ste. Michelle Wine Estates Ltd. (Ste. Michelle) and Philip Morris Capital Corporation (PMCC). Altria owns an 80% interest in Helix Innovations LLC (Helix). Altria holds equity investments in Anheuser-Busch InBev SA/NV (ABI), JUUL Labs, Inc. (JUUL) and Cronos Group Inc. (Cronos).
The brand portfolios of Altria’s tobacco operating companies include Marlboro®, Black & Mild®, Copenhagen®, Skoal® and on!®. Ste. Michelle produces and markets premium wines sold under various labels, including Chateau Ste. Michelle®, 14 Hands® and Stag’s Leap Wine Cellars™, and it imports and markets Antinori®, Champagne Nicolas Feuillatte™ and Villa Maria Estate™ products in the United States.
The Simpson Thacher team for the transaction included Roxane Reardon, Jessica Asrat and Richard Ragusa (Capital Markets); Jonathan Cantor (Tax); Sara Razi (Antitrust); Jamin Koslowe (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Marissa Lambert (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).