XP’s $3 Billion Notes Offering and $2.5 Billion Cash Tender Offer

Gibson, Dunn & Crutcher acted as counsel to HP Inc., while Cravath represented the underwriters and dealer managers on the deal.

HP Inc. completed its $3 billion registered notes offering, consisting of $1,150,000,000 aggregate principal amount of its 2.200% notes due 2025, $1,000,000,000 aggregate principal amount of its 3.000% notes due 2027, and $850,000,000 aggregate principal amount of its 3.400% notes due 2030. The transactions closed on June 17, 2020.

HP Inc. also completed a concurrent $2.5 billion cash tender offer.

BNP PARIBAS, Goldman Sachs & Co. LLC, HSBC and J.P. Morgan Securities acted as underwriters.

HP Inc. is a leading global provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

The Cravath team included partners Craig F. Arcella (Picture) and Nicholas A. Dorsey and associates Saagar Kaul, Darien Pun and Nastassia Shcherbatsevich on capital markets matters, and partner Christopher K. Fargo and associate Leon B. Dalezman on tax matters.

Involved fees earner: Craig Arcella – Cravath Swaine & Moore; Leon Dalezman – Cravath Swaine & Moore; Darien Pun – Cravath Swaine & Moore; Nicholas Dorsey – Cravath Swaine & Moore; Christopher K. Fargo – Cravath Swaine & Moore; Saagar Kaul – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: BNP Paribas; Goldman Sachs & Co.; HSBC; J.P. Morgan Securities LLC;

Author: Ambrogio Visconti