El Puerto de Liverpool, S.A.B. de C.V. Completes $1 Billion Senior Notes Offering
01.23.25
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Simpson Thacher represented El Puerto de Liverpool, S.A.B. de C.V. (“Liverpool”) in connection with a US$1 billion Rule 144A/Regulation S offering of senior notes consisting of US$500 million aggregate principal amount of 6.255% Senior Notes due 2032 and US$500 million aggregate principal amount of 6.658% Senior Notes due 2037.
The net proceeds from the offering will be used to finance a portion of Liverpool’s investment in connection with the announced acquisition of Nordstrom, Inc. by Liverpool and certain Nordstrom family members. The acquisition is subject to certain conditions, including approval by Nordstrom shareholders.
Liverpool is one of the largest Mexican omni-channel retailers with a leading presence in department stores and a robust e-commerce platform. Founded 176 years ago, it operates across Mexico with 312 stores under the Liverpool and Suburbia banners and 120 specialized boutiques, as well as 29 shopping centers. Liverpool is the second largest credit card issuer in Mexico, with more than 7.6 million credit cards issued.
The Simpson Thacher team for the offering included Juan Francisco Mendez, Kirsten Davis, Enrique Güijosa and Begoña Rodriguez (Capital Markets – Latin America); and Adam Arikat and Michael Mann (Tax).