12 04 2016

Apple Inc.'s $3.5 Billion Notes Additional Offering

Simpson Thacher represented the underwriters, led by Goldman, Sachs & Co., Deutsche Bank Securities Inc., and J.P. Morgan Securities LLC Merrill Lynch, Pierce, Fenner & Smith Incorporated in connection with the registered public offering by Apple Inc. (NASDAQ: AAPL) of $3.5 billion aggregate principal amount of additional notes over three tranches with maturities ranging from 5 to 30 years.


The additional notes constituted a reopening of the $12 billion aggregate principal amount of notes initially issued on February 23, 2016, increasing the aggregate principal amount of the series to $15.5 billion. 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 (Picture), Dan Webb, Kelli Schultz, Colin Lloyd and Kate Bai (Capital Markets); Jason Vollbracht and Tanvi Mirani (Tax); and Jennie Getsin (Blue Sky). Involved fees earner: Kevin Kennedy - Simpson Thacher & Bartlett; Daniel Webb - Simpson Thacher & Bartlett; Kelli Schultz - Simpson Thacher & Bartlett; Colin Lloyd - Simpson Thacher & Bartlett; Xue Jiao Bai - Simpson Thacher & Bartlett; Jason Vollbracht - Simpson Thacher & Bartlett; Tanvi Mirani - Simpson Thacher & Bartlett; Jennie Getsin - Simpson Thacher & Bartlett;

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