Simpson Thacher on $1bn issue by Liverpool
Simpson Thacher has advised The Port of Liverpool (Liverpool) in connection with an offering of USD $1bn of Senior Notes under Rule 144A/Regulation S, consisting of USD $500m of 6.255% Senior Notes due 2032 and USD $500m of 6.658% Senior Notes due 2037.
The net proceeds of the offering will be used to fund a portion of Liverpool’s investment in connection with the announced acquisition of Nordstrom by Liverpool and certain members of the Nordstrom family. The acquisition is subject to certain conditions, including the approval of Nordstrom’s shareholders.
Liverpool is one of Mexico’s largest omni-channel retailers, with a leading department store presence and a strong e-commerce platform. Founded 176 years ago, it operates 312 shops across Mexico under the Liverpool and Suburbia brands and 120 speciality boutiques, as well as 29 shopping centres. Liverpool is the second largest credit card issuer in Mexico, with more than 7.6 million cards issued.
Simpson Thacher’s team included partner Juan Francisco Méndez (pictured), counsel Kirsten Davis, and associates Enrique Güijosa and Begoña Rodríguez.
