Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC, BofA Securities, Inc. and Wells Fargo Securities, LLC, in a registered public offering of $1 billion aggregate principal amount of 4.900% Senior Notes due 2028 and $1 billion aggregate principal amount of 5.050% Senior Notes due 2030 by Microchip Technology Incorporated (“Microchip”).
Microchip used the net proceeds from the offering to repay its Senior Term Loan Facility, to repay a portion of the debt outstanding under its Commercial Paper Program and to pay fees and expenses related to the offering.
Microchip is a leading provider of smart, connected and secure embedded control solutions. Microchip’s solutions serve approximately 125,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets.
The Simpson Thacher team included David Azarkh, Patrick Baron and Erin Camia (Capital Markets); Lori Lesser (Intellectual Property); Jonathan Cantor and Michael Leitner (Tax); Abram Ellis, Ryan Stalnaker and Anais Bourbon (Regulatory); Michael Isby (Environmental); J. Pasco Struhs (ECEB); Jeanne Annarumma (ERISA); and Andrew Pagliughi (Blue Sky).