Alimentation Couche-Tard’s $1 Billion Bond Offering

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC and RBC Capital Markets, LLC in the offering.

Alimentation Couche-Tard Inc. (“Couche-Tard”) executed the U.S. bond offering of $650 million aggregate principal amount of 3.439% Senior Notes due 2041 (the “2041 Notes”) and $350 million aggregate principal amount of 3.625% Senior Notes due 2051 (the “Green Bonds”) in reliance on Rule 144A and Regulation S. Couche-Tard intends to use the net proceeds from the offering of the 2041 Notes, combined with cash on hand, to redeem all of its outstanding senior notes due 2022 and to pay related fees and expenses and the net proceeds from the offering of the Green Bonds to finance or refinance one or more new or existing eligible green projects.

Couche-Tard is a global leader in convenience and fuel retail. With its well-known Couche-Tard and Circle K banners, it is the largest independent convenience store operator in terms of the number of company-operated stores in the United States and it is a leader in the convenience store and retail road transportation fuel industries in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong.

The Simpson Thacher team included Risë Norman (Picture), Sean Dougherty and Frances Fuqua (Capital Markets); Jon Cantor and Eli Shalam (Tax); Adeeb Fadil and Noreen Lavan (Environmental); Jennifer Neilsson (Executive Compensation and Employee Benefits); Melanie Jolson (IT/IP); and Jennie Getsin (Blue Sky).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Sean Dougherty – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Risë Norman – Simpson Thacher & Bartlett; Eli Shalam – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; RBC Capital Markets;

Author: Martina Bellini