The Firm recently represented BofA Securities, Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC and the other underwriters in connection with a $5 billion offering of debt securities by Walmart Inc. (“Walmart”). Walmart offered and sold $1.75 billion aggregate principal amount of its 3.9% Notes due 2025, $1 billion aggregate principal amount of its 3.95% Notes due 2027, $1.25 billion aggregate principal amount of its 4.15% Notes due 2032 and $1 billion aggregate principal amount of its 4.5% Notes due 2052. Walmart intends to use the net proceeds from the sale of the notes for general corporate purposes, which may include repayment, refinancing or replacement of maturing debt, among other uses.
Walmart (NYSE: WMT) helps people around the world save money and live better—anytime and anywhere—in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity.
The Simpson Thacher team included William Brentani, Kelli Schultz, Jesse Feng and Laura Yang (Capital Markets); Jonathan Cantor and Eli Shalam (Tax); and Jennie Getsin (FINRA and Blue Sky).