Microchip Technology’s $1 Billion Senior Secured Notes Offering

Simpson Thacher represented the initial purchasers in the offering.

Microchip Technology Incorporated (“Microchip”) executed its $1 billion aggregate principal amount of 0.983% Senior Secured Notes due 2024.

Microchip used the net proceeds from the offering together with borrowings under Microchip’s revolving credit facility, to repay the $1 billion in aggregate principal amount of its outstanding 3.922% Senior Secured Notes due 2021 and related fees and expenses of the offering.

The initial purchasers included J.P. Morgan Securities LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC.

Microchip is a leading developer and manufacturer of specialized semiconductor products. Microchip’s products serve approximately 113,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets.

The Simpson Thacher team included Art Robinson (Picture), Patrick Baron and Ryan Poché (Capital Markets); Jonathan Pall (Collateral); Lori Lesser and Alysha Sekhon (Intellectual Property); Jonathan Cantor and Zachary Fialkow (Tax); Michael Isby (Environmental); Larry Moss (ECEB); Jeanne Annarumma (ERISA); and Andrew Pagliughi (Blue Sky).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Patrick Baron – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Zachary Fialkow – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Ryan Poché – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Alysha Sekhon – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; Truist Securities Inc. ; Wells Fargo Securities;

Author: Martina Bellini