Etsy $300 Million Convertible Senior Notes Offering


Davis Polk advised the initial purchasers in connection with a Rule 144A offering by Etsy, Inc. of $300 million aggregate principal amount of its 0% convertible senior notes due 2023. In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acted as Initial Purchasers on the offering.

Based in Brooklyn, New York, Etsy is a global marketplace for unique and creative goods, connecting entrepreneurs with consumers looking for items made by real people. The company, led by Joshua G Silverman, Rachel C Glaser and Mike Fisher in 2017 recorded $441 Million Revenues.

The Davis Polk corporate team included partner Sarah K. Solum (Picture) and associates Marcus K. Hintze and Josephine Chen. The Davis Polk equity derivatives team included partner Mark M. Mendez and associates Mark J. DiFiore and Won Lee. The tax team included partner Michael Farber. Counsel Michelle Ontiveros Gross and associate Jason J. Bang provided intellectual property and technology advice.

Involved fees earner: Sarah K. Solum – Davis Polk & Wardwell; Marcus Hintze – Davis Polk & Wardwell; Josephine Chen – Davis Polk & Wardwell; Mark Mendez – Davis Polk & Wardwell; Mark DiFiore – Davis Polk & Wardwell; Won Lee – Davis Polk & Wardwell; Michael Farber – Davis Polk & Wardwell; Michelle Ontiveros Gross – Davis Polk & Wardwell; Jason Bang – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Goldman, Sachs & Co.; Morgan Stanley; JP Morgan Securities;

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Author: Ambrogio Visconti