ServiceNow’s $750 Million Convertible Senior Notes Offering


Fenwick & West represented ServiceNow, Inc. (NYSE: NOW,) the enterprise IT cloud company, in its offering of $750 million aggregate principal amount of 0% convertible senior notes due 2022.

he notes were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. ServiceNow also granted the initial purchasers of the notes an option to purchase up to an additional $112.5 million aggregate principal amount of notes, solely to cover over allotments.

Morgan Stanley, J.P. Morgan, RBC Capital Markets, Barclays, Citigroup and UBS Investment Bank acted as initial purchasers of the notes.

The Fenwick transaction team included corporate lawyers David Michaels (Picture), Dawn Belt, Robert Freedman, Julia Forbess, Eugene Karlik, Amanda Baratz and Elena Moreno Cloutier; and tax lawyers William Skinner and David de Ruig.

Involved fees earner: David Michaels – Fenwick & West LLP; Dawn Belt – Fenwick & West LLP; Robert Freedman – Fenwick & West LLP; Julia Forbess – Fenwick & West LLP; Eugene Karlik – Fenwick & West LLP; Amanda Baratz – Fenwick & West LLP; Elena Moreno Cloutier – Fenwick & West LLP; William Skinner – Fenwick & West LLP; David de Ruig – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: ServiceNow Inc.;

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Author: Ambrogio Visconti