We advised the book-running managers on the offering and the dealer managers on the tender offer

Davis Polk advised the joint book-running managers and representatives of the several initial purchasers in connection with a Rule 144A / Regulation S notes offering by Nestlé Capital Corporation of $750 million aggregate principal amount of 4.200% notes due 2031, $500 million aggregate principal amount of 4.500% notes due 2033 and $750 million aggregate principal amount of 4.800% notes due 2036. The notes are guaranteed by Nestlé S.A., the indirect parent company of the issuer.

Davis Polk also advised the dealer managers in connection with Nestle Holdings, Inc.’s concurrent cash tender offer for any and all of its 1.000% notes due 2027 and 1.150% notes due 2027.

Nestlé is the world’s largest food and beverage company. Nestlé has more than 2,000 brands ranging from global icons to local favorites and is present in 185 countries around the world.

The Davis Polk capital markets team included partner John B. Meade and associate Megan P. Phansalkar. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Members of the Davis Polk team are based in the New York and London offices.

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