Alimentation Couche-Tard’s $1.5 Billion Bond Offering

Simpson Thacher represented the initial purchasers, led by Wells Fargo Securities, LLC, RBC Capital Markets, LLC and HSBC Securities (USA) Inc., in connection with the U.S. bond offering by Alimentation Couche-Tard Inc.

Alimentation Couche-Tard Inc. completed an offering of $750 million aggregate principal amount of 2.95% Senior Notes due 2030 and $750 million aggregate principal amount of 3.8% Senior Notes due 2050 in reliance on Rule 144A and Regulation S.

Couche-Tard intends to use the net proceeds from the offering to repay certain amounts outstanding under its credit facilities, for general corporate purposes and to pay related fees and expenses of this offering.

Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic countries (Estonia, Latvia and Lithuania) as well as in Ireland, and has an important presence in Poland.

The Simpson Thacher team included Risë Norman (Picture) and Sean Dougherty (Capital Markets); Rob Holo and Eli Shalam (Tax); Adeeb Fadil and Noreen Lavan (Environmental); Erin Murphy (Executive Compensation and Employee Benefits); Melanie Jolson (IT/IP); and Jennie Getsin (Blue Sky).

Involved fees earner: Sean Dougherty – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Erin Murphy – Simpson Thacher & Bartlett; Risë Norman – Simpson Thacher & Bartlett; Eli Shalam – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: HSBC Securities; RBC Capital Markets; Wells Fargo Securities;

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Author: Ambrogio Visconti