The Firm recently represented the underwriters, led by Citigroup, Deutsche Bank and J.P. Morgan, in connection with a public offering by Altria Group, Inc. of $1.9 billion aggregate principal amount of its 2.850% Notes due 2022 and $900 million aggregate principal amount of its 4.250% Notes due 2042. The offering closed on August 9, 2012.
Altria intends to use the net proceeds from the issuance of the notes for the repayment or repurchase of certain of its debt, including its notes to be purchased pursuant to a tender offer of up to $2,000,000,000 aggregate principal amount of its 9.700% Notes due 2018, its 9.250% Notes due 2019, its 9.950% Notes due 2038 and its 10.200% Notes due 2039, and other general corporate purposes.
Altria is the parent company of Philip Morris USA and John Middleton. Altria also indirectly owns U.S. Smokeless Tobacco Company and Ste. Michelle Wine Estates and has a continuing economic and voting interest in SABMiller.
The Simpson Thacher team included Edward P. Tolley, III, Katerina Kousoula, Vanessa Browder and Bharat Kejriwal (Capital Markets); Mike Isby (Environmental); Jonathan Cantor and Jodi L. Sackel (Tax); Jamin R. Koslowe (Compensation and Employee Benefits); and Corina Gugler and Keren Siman-Tov (Intellectual Property).
