The Firm represented the initial purchasers, led by J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with a Rule 144A/Regulation S offering of $1 billion aggregate principal amount of 3.922% Senior Secured Notes due 2021 and $1 billion aggregate principal amount of 4.333% Senior Secured Notes due 2023 issued by Microchip Technology Incorporated. The Firm also represented the arrangers in connection with an aggregate $3.8 billion revolving facility and a $3 billion term loan facility for Microchip Technology. Microchip Technology used the proceeds from the notes offering and the credit facilities to finance, in part, the acquisition of Microsemi Corporation and related refinancing transactions.
Microchip Technology Incorporated is a developer and manufacturer of specialized semiconductor products. Microsemi Corporation offers a portfolio of semiconductors and system solutions for aerospace and defense, communications, data center and industrial markets.
The Simpson Thacher team included Art Robinson, Marisa Stavenas, Jean Park, Robert Kelley and Robert Meyer (Capital Markets); Patrick Ryan, Jonathan Zane and Kyle Spies (Credit); Soogy Lee and Jonathan Pall (Security and Collateral); Marcela Robledo (Intellectual Property); and Nicole Humphrey (Tax); Michael Isby (Environmental); Larry Moss and Stephan Bradley (ECEB); and Andrew Pagliughi (Blue Sky). Associates Grady Chang and Christine Ristow also provided valuable assistance.