Simpson Thacher represented the initial purchasers, led by Barclays Capital Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC, in connection with the 144A/Reg S offering by Smithfield Foods, Inc. (“Smithfield”) of $500 million of Senior Notes. The Senior Notes are guaranteed by certain of Smithfield’s U.S. subsidiaries. Smithfield intends to use the net proceeds from the offering to redeem its existing notes due 2021 and pay accrued interest thereon, as well as repay borrowings under its senior credit facility. Remaining proceeds, if any, will be used for general corporate purposes.
Headquartered in Smithfield, Va. since 1936, Smithfield is an American food company with agricultural roots and a global reach. Its 63,000 team members 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 Jack Nalen (Capital Markets); Jon Cantor (Tax); Adeeb Fadil (Environmental); Genevieve Dorment (IP); Jeanne Annarumma and Pasco Struhs (ECEB); and Jennie Getsin (Blue Sky).