Walmart’s $10 Billion Tender Offer

Simpson Thacher advised dealer managers on the deal.

Walmart announced its tender offer in order to purchase for cash certain of its outstanding notes. Following the upsize and early settlement of the tender offer, Walmart accepted for purchase $10 billion aggregate principal amount of such notes, upsized from the original maximum principle amount of $8 billion.  

Credit Suisse Securities (USA), TD Securities (USA), BNP Paribas Securities Corp., Goldman Sachs & Co. and NatWest Markets Securities Inc. acted as dealer managers on the deal.

Walmart Inc. operates discount stores, supercenters, and neighborhood markets. The Company offers merchandise such as apparel, house wares, small appliances, electronics, musical instruments, books, home improvement ecc. Walmart serves customers worldwide. 

The Simpson Thacher team included William Brentani (Picture), Kelli Schultz, Jesse Feng and Marina Hernandez (Capital Markets); Jonathan Cantor and Eli Shalam (Tax); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: William Brentani – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Jesse Feng – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Marina Hernandez – Simpson Thacher & Bartlett; Kelli Schultz – Simpson Thacher & Bartlett; Eli Shalam – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: BNP Paribas; Credit Suisse Securities (USA) LLC; Goldman Sachs & Co.; NatWest Markets; TD Securities;

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Author: Alejandro Girola