Simpson Thacher Advises the Underwriters on Apple’s £1.25 Billion Sterling-Denominated Bond Offering
07.31.15
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Simpson Thacher represented the underwriters, led by Goldman, Sachs & Co., Merrill Lynch International and HSBC Bank plc, in connection with Apple Inc.’s (“Apple”) first registered public offering of sterling-denominated notes. Apple offered £750 million aggregate principal amount of 3.05% notes due 2029 and £500 million aggregate principal amount of 3.6% notes due 2042. The notes will be listed on the New York Stock Exchange. The net proceeds from the offering will be used for general corporate purposes, including repurchases of common stock and payment of dividends under Apple’s program to return capital to shareholders, funding for working capital, capital expenditures, acquisitions and repayment of debt.
The Simpson Thacher team for the offering included Kevin Kennedy, Dan Webb, Kelli Schultz and Caroline Newton (Capital Markets); Noah Metz (Tax); and Jennie Getsin (Blue Sky). Summer associates Clint Eastman and Brian Jones also provided invaluable assistance.