Simpson Thacher represented the initial purchasers, led by Barclays Capital Inc., BofA Securities, Inc. and Morgan Stanley & Co. LLC, in connection with the 144A/Reg S offering by Smithfield Foods, Inc. of $500 million of Senior Notes. The Senior Notes are guaranteed by certain of Smithfield’s U.S. subsidiaries. Smithfield used a portion of the net proceeds from the offering to fund tender offers for its 2.65% Senior Unsecured Notes due 2021 and 3.35% Senior Unsecured Notes due 2022, and the remaining proceeds will be used for general corporate purposes. The Firm also represented Barclays Capital Inc. and BofA Securities, Inc. as dealer managers in connection with the tender offers.
Headquartered in Smithfield, Va. since 1936, Smithfield Foods, Inc. is an American food company with agricultural roots and a global reach. Its 40,000 U.S. and 15,000 European employees are dedicated to producing "Good food. Responsibly.®" and have made Smithfield one of the world's leading vertically integrated protein companies. Smithfield boasts a portfolio of high-quality iconic brands, such as Smithfield®, Eckrich® and Nathan's Famous®, among many others.
The Simpson Thacher team included Art Robinson, Brian E. Rosenzweig, Matt Petrone and Sara Daniel (Capital Markets); Jon Cantor and Abigail Hopper (Tax); Adeeb Fadil (Environmental); Genevieve Dorment and Loren Shokes (IP); Jeanne Annarumma and Pasco Struhs (ECEB); and Jennie Getsin (Blue Sky).