Simpson Thacher recently represented the underwriters, led by Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC, in connection with a registered offering of $6 billion in notes by Pfizer Inc. The notes were issued in five series with maturities ranging from 2019 to 2046, with proceeds used to fund the tender offer described below, to fund the redemption of any notes that remain outstanding after completion of this tender offer, and for general corporate purposes, including the refinancing, redemption, repurchase or repayment of existing debt.
The Firm also represented Citigroup Global Markets Inc. as dealer manager in connection with a concurrent tender offer to purchase for cash any and all of its 6.2% Senior Notes due 2019. The tender offer expired on November 18, 2016. Approximately $1.9 billion in aggregate principal amount of notes were validly tendered and accepted for purchase in the tender offer.
Pfizer is a research-based, global biopharmaceutical company. Pfizer’s global portfolio includes medicines, vaccines and medical devices, as well as many of the world’s best-known consumer healthcare products.
The Simpson Thacher team included Joe Kaufman, John Lobrano, Jonathan Ozner, Meaghan Krupa and Ki Hoon Kim (Capital Markets); Jon Cantor and Taylor Weinstein (Tax); Lori Lesser and Marcela Robledo (Intellectual Property); Jamin Koslowe (Executive Compensation and Employee Benefits); Adeeb Fadil and Noreen Lavan (Environmental); and Andrew Pagliughi (FINRA and Blue Sky).