Simpson Thacher represented the underwriters, led by Morgan Stanley & Co. LLC, BNP Paribas Securities Corp. and Credit Suisse Securities (USA) LLC, in connection with the public offering by Micron Technology, Inc. (“Micron”) of $600 million aggregate principal amount of 4.64% Senior Notes due 2024, $500 million aggregate principal amount of 4.975% Senior Notes due 2026 and $700 million aggregate principal amount of 5.327% Senior Notes due 2029. The net proceeds of the offering will be used to primarily pay the cost of extinguishing Micron’s obligations with respect to its $1,019 million aggregate outstanding principal amount of its 3% Convertible Senior Notes due 2043 and the remaining net proceeds will be used for general corporate purposes, which may include capital expenditures, working capital and the repayment, repurchase, redemption or other retirement of Micron’s other existing indebtedness.
Micron, through its subsidiaries, manufactures semiconductor devices, principally NAND Flash, DRAM, and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
The Simpson Thacher team included Dan Webb, Karen Reyes, Jeremy Bethel and Jay Higdon (Capital Markets); Jacqueline Clinton (Tax); Alexis Coll-Very (Regulatory); and Jennie Getsin and Andrew Pagliughi (Blue Sky).