Zscaler’s $1.15 Billion Convertible Senior Notes Offering

Davis Polk advised the representatives of the initial purchasers in connection with the offering.

Zscaler, Inc. executed the offering of $1.15 billion aggregate principal amount of its 0.125% convertible senior notes due 2025, including $150 million aggregate principal amount of convertible senior notes pursuant to the exercise of the initial purchasers’ option to purchase additional securities.

Zscaler’s services create fast, secure connections between users and applications, regardless of device, location or network. Zscaler’s common stock is listed on the Nasdaq Global Select Market under the symbol “ZS.”

The Davis Polk corporate team advising Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the initial purchasers, included partners Alan F. Denenberg (Picture) and Emily Roberts and associates Blake Anderson and Paula Gergen. The equity derivatives team included partner Mark J. DiFiore, counsel Justin Michael and associate Ben Somogyi. The tax team included partner Lucy W. Farr and associate Ben Levenback. Partner Pritesh P. Shah provided intellectual property advice.

Involved fees earner: Blake Anderson – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Mark DiFiore – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Paula Gergen – Davis Polk & Wardwell; Ben Levenback – Davis Polk & Wardwell; Justin Michael – Davis Polk & Wardwell; Emily Roberts – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Ben Somogyi – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Goldman Sachs & Co.; J.P. Morgan Securities LLC; Morgan Stanley;

Author: Ambrogio Visconti