The Firm represented the underwriters, led by J.P. Morgan and Wells Fargo Securities, in an offering of an additional $200 million of 4.750% Senior Notes due 2021 by Tupperware Brands Corporation (“Tupperware”). The additional notes constituted a reopening of the $400 million aggregate principal amount of notes initially issued on June 3, 2011. The notes are guaranteed on a senior secured basis by Tupperware’s wholly-owned subsidiary, Dart Industries Inc. The collateral securing the Guarantee consists of certain Tupperware® trademarks and service marks owned by Dart.
The net proceeds from the offering are being used to repay Tupperware’s Bridge Loan and for general corporate purposes.
Tupperware is a worldwide direct-to-consumer company engaged in the manufacture and sale of premium, innovative products across multiple brands and categories through an independent sales force of 2.8 million. Tupperware manufactures and sells Tupperware® products and cosmetics and personal care products under a variety of trade names including Armand Dupree®, Avroy Shlain®, BeautiControl®, Fuller®, NaturCare®, Nutrimetics® and Nuvo®.
The Simpson Thacher team included, among others, John Lobrano, Karen Wang and Kevin Elliott (Capital Markets); Janet Nadile (Collateral); Jodie Pimentel (Intellectual Property); Jonathan Cantor (Tax); and Andrew Pagliughi (Blue Sky).
