Hershey’s $1 Billion Offering

May 27, 2020

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

Hershey issued $300 million of 0.9% fixed-rate notes due 2025, $350 million of 1.7% fixed-rate notes due 2030, and $350 million of 2.65% fixed-rate notes due 2050. The notes were offered for sale in the United States and abroad. The offering is scheduled to close on June 1, 2020.

Hershey, headquartered in Hershey, Pennsylvania, is a global confectionary leader known for bringing goodness to the world through its chocolate, sweets, mints, gum, and other great-tasting snacks. The company, which has more than 80 brands around the world that drive over $7.9 billion in annual revenues, includes such iconic brand names as Hershey’s, Reese’s, Hershey’s Kisses, Jolly Rancher, Ice Breakers, and Brookside.