Simpson Thacher Represents Citigroup and Credit Suisse in InRetail Consumer’s High Yield Bond Offering and Tender Offer and Consent Solicitation
The Firm represented Citigroup and Credit Suisse as initial purchasers in connection with InRetail Consumer’s offering of an aggregate principal amount of US$300 million 5.250% Senior Notes due 2021, which was conducted in reliance upon Rule 144A and Regulation S under the Securities Act. The Firm also represented Credit Suisse as dealer manager in connection with a concurrent cash tender offer and consent solicitation whereby InRetail Consumer offered to purchase any and all the outstanding 8.875% Senior Guaranteed Notes due 2018 issued by Intercorp Retail Trust, an affiliate of InRetail Consumer.
InRetail Consumer is a multi-format retailer in Peru with two business segments: supermarkets and pharmacies. Supermercados Peruanos, their supermarket chain, is the second largest in Peru, and targets multiple socioeconomic categories of the Peruvian population. InkaFarma, their pharmacy chain, is the largest in Peru, and one of the most recognized brands in the country.
The Simpson Thacher team included Juan Francisco Méndez, Juan M. Naveira and David Argueta (Capital Markets); and Jon Cantor and Jacqueline Barbera (Tax).