Teledyne Technologies’ $3 Billion Notes Offering

Davis Polk advised the joint book-running managers on the offering.

Teledyne Technologies Incorporated executed the offering of $300 million aggregate principal amount of its 0.650% notes due 2023, $450 million aggregate principal amount of its 0.950% notes due 2024, $450 million aggregate principal amount of its 1.600% notes due 2026, $700 million aggregate principal amount of its 2.250% notes due 2028 and $1.1 billion aggregate principal amount of the its 2.750% notes due 2031.

BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc. acted as joint book-running managers; BMO Capital Markets Corp., MUFG Securities Americas Inc., PNC Capital Markets LLC, and Truist Securities, Inc., as sr.co-managers; and BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, KeyBanc Capital Markets Inc., and Siebert Williams Shank & Co., LLC, as co-managers for this offering.

Headquartered in California, Teledyne provides enabling technologies for industrial growth markets that require advanced technology and high reliability. These markets include aerospace and defense, factory automation, air and water quality environmental monitoring, electronics design and development, oceanographic research, deepwater oil and gas exploration and production, medical imaging and pharmaceutical research.

The Davis Polk capital markets team included partner Deanna L. Kirkpatrick (Picture) and associates Joze Vranicar and Shaoting Qin. Counsel Kiara L. Rankin and associate Shay Moyal provided tax advice. Counsel David A. Zilberberg and associate Cristina Harshman provided environmental advice. Counsel David Mollo-Christensen and associate James (Chih-Kai) Lin provided executive compensation advice.

Involved fees earner: Cristina Harshman – Davis Polk & Wardwell; Deanna Kirkpatrick – Davis Polk & Wardwell; James Lin – Davis Polk & Wardwell; David Mollo-Christensen – Davis Polk & Wardwell; Shay Moyal – Davis Polk & Wardwell; Shaoting Qin – Davis Polk & Wardwell; Kiara Rankin – Davis Polk & Wardwell; David Zilberberg – Davis Polk & Wardwell; Joze Vranicar – Skadden Arps Slate Meager & Flom;

Law Firms: Davis Polk & Wardwell; Skadden Arps Slate Meager & Flom;

Clients: Bank of America Securities; J.P. Morgan Securities LLC; U.S. Bancorp Investments;

Author: Martina Bellini