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Deal Date: 23-11-2020 Practice Area: Debt Capital Markets
Deal Title: Microchip Technology Incorporated Convertible Notes Exchanges Industry: Technology Hardware & Equipment
Description:
Davis Polk advised the financial adviser to Microchip Technology Incorporated in connection with Microchip's privately negotiated exchanges of USD90 million aggregate principal amount of its outstanding 1.625% convertible senior subordinated notes due 2025, USD589 million aggregate principal amount of its outstanding 1.625% convertible senior subordinated notes due 2027 and USD408 million aggregate principal amount of its outstanding 2.250% convertible junior subordinated notes due 2037. In exchange for these notes, Microchip was to issue USD666 million aggregate principal amount of new 0.125% convertible senior subordinated notes due 2024 and approximately 8.5 million shares of Microchip's common stock and pay USD435 million in cash.
Financial Center: Silicon Valley Value: 1000.01-5000.00
Advised Party: Financial Advisors Law Firm
Issuer Jurisdiction United States Listing Jurisdiction United States
Classification: Bond Repurchase and Exchange Schemes Exchange Offers
Lawyer Alan F Denenberg