Simpson Thacher represented the initial purchasers, led by Wells Fargo Securities, LLC and J.P. Morgan Securities LLC in connection with the U.S. bond offering by Alimentation Couche-Tard Inc. (“Couche-Tard”) of $900 million aggregate principal amount of 5.267% Senior Notes due 2034 (the “2034 Notes”) and $600 million aggregate principal amount of 5.617% Senior Notes due 2054 (the “2054 Notes” and, together with the 2034 Notes, the “USD Notes”) in reliance on Rule 144A and Regulation S.
Simpson Thacher also represented the initial purchasers, led by J.P. Morgan Securities plc and Wells Fargo Securities International Limited in connection with the Euro bond offering by Couche-Tard of €700 million aggregate principal amount of 3.647% Senior Notes due 2031 (the “2031 Notes”) and €650 million aggregate principal amount of 4.011% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes and the USD Notes, the “Notes”) in reliance on Rule 144A and Regulation S.
Couche-Tard expects to use the net proceeds from the sale of the Notes to repay outstanding indebtedness, including amounts under its 2023 credit agreement facilities and to pay certain fees and expenses in connection therewith.
Couche-Tard is a global leader in convenience and mobility, operating in 29 countries and territories, with more than 16,700 stores, of which almost 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and the Hong Kong Special Administrative Region of the People’s Republic of China and has recently expanded to Belgium, Germany, Luxembourg and the Netherlands.
The Simpson Thacher team included Risë Norman and Adriana Estor-Restrepo (Capital Markets); Jon Cantor (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Mark Natividad (IT/IP); and Jennie Getsin (Blue Sky).