Hershey’s $1 Billion Offering

October 31, 2019

Cleary Gottlieb represented the underwriters, led by BofA Securities, Citigroup Global Markets, J.P. Morgan Securities, and RBC Capital Markets, in a recent SEC-registered debt offering by The Hershey Company (Hershey).

Hershey issued $300 million of 2.05% fixed-rate notes due 2024, $300 million of 2.45% fixed-rate notes due 2029, and $400 million of 3.125% fixed-rate notes due 2049. The notes were offered for sale in the United States and abroad. The offering closed on October 31, 2019.

Hershey, headquartered in Hershey, Pennsylvania., is a global leader in chocolate and non-chocolate confectionery known for bringing goodness to the world through its chocolate, sweets, mints, and other great-tasting snacks. The company, which has more than 80 brands around the world that drive over $7.7 billion in annual revenues, includes such iconic brand names as Hershey’s, Reese’s, Hershey’s Kisses, Jolly Rancher, Ice Breakers, and Brookside.