PTC’s $1 Billion Senior Notes Offering

Simpson Thacher represented PTC Inc. on the deal.

PTC Inc. closed an offering of $500 million aggregate principal amount of its 3.625% Senior Notes due 2025 and $500 million aggregate principal amount of its 4% Senior Notes due 2028.

PTC intends to use the net proceeds from the transaction to redeem all $500 million of its outstanding 6% Senior Notes due 2024 and to repay a portion of the outstanding loans under its senior credit facility.

PTC is a global software and services company that, together with a partner ecosystem, drives digital transformation for industrial companies. PTC technology enables customers to improve operational efficiency, accelerate product and service innovation, and increase workforce productivity.

The Simpson Thacher team for the transaction included Art Robinson (Picture), Sunny Cheong, Clark Warthen and Kyle Schwab (Capital Markets); Jon Cantor and Abigail Hopper (Tax); Jennifer Neilsson (ECEB); Marcela Robledo (IP); and Mike Isby (Environmental).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Sunny Cheong – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; Kyle Schwab – Simpson Thacher & Bartlett; Charles Clark Warthen – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: PTC Inc.;