PTC Completes $1 Billion Senior Notes Offering
02.13.20
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Simpson Thacher represented PTC Inc. (NASDAQ: PTC) (“PTC”) in connection with the Rule 144A/Regulation S offering of $500 million aggregate principal amount of its 3.625% Senior Notes due 2025 and $500 million aggregate principal amount of its 4% Senior Notes due 2028. PTC intends to use the net proceeds from the transaction to redeem all $500 million of its outstanding 6% Senior Notes due 2024 and to repay a portion of the outstanding loans under its senior credit facility.
PTC is a global software and services company that, together with a partner ecosystem, drives digital transformation for industrial companies. PTC serves a broad range of these companies, including discrete manufacturers (industrial machinery & components, aerospace & defense, automotive, and electronics & high technology), process/continuous manufacturers (life sciences, energy & resources, and consumer packaged goods), and operators. PTC technology enables customers to improve operational efficiency, accelerate product and service innovation, and increase workforce productivity.
The Simpson Thacher team for the transaction included Art Robinson, Sunny Cheong, Clark Warthen and Kyle Schwab (Capital Markets); Jon Cantor and Abigail Hopper (Tax); Jennifer Neilsson (ECEB); Marcela Robledo (IP); and Mike Isby (Environmental).