Daily News: April 12, 2013

Simpson Thacher Represents Wal-Mart Debt Offering Underwriters


Simpson Thacher announced it represented Barclays Capital, Citigroup Global Markets, Morgan Stanley, BNP Paribas Securities, HSBC Securities and J.P. Morgan Securities and other underwriters in connection with a $5 billion offering of debt securities by Wal-Mart Stores.

Wal-Mart offered and sold $1 billion of its 0.600% notes due 2016, $1.25 billion of its 1.125% notes due 2018, $1.75 billion of its 2.550% notes due 2023 and $1 billion of its 4.000% notes due 2043. The net proceeds from the offering will be used for general corporate purposes.

Wal-Mart is the world’s largest retailer, with total net sales of $466.1 billion in its fiscal year ended January 31, 2013.

The Simpson Thacher team for the debt offering included, among others, John D. Lobrano, Daniel Bae and Jihyun Chung (Capital Markets), Jonathan Cantor and Andrew Purcell (Tax) and Jennie Getsin (Blue Sky).