Davis Polk & Wardwell advised Banc of America Securities LLC, Goldman, Sachs & Co., J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and Wachovia Capital Markets, LLC as joint book-running managers on a $4 billion SEC-registered debt offering by Cisco Systems, Inc., including $2 billion of 4.95% senior notes due 2019 and $2 billion of 5.90% senior notes due 2039.

Cisco Systems designs, manufactures and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology industry and provides services associated with these products and their use.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Robert J. Maynes and Saswat Bohidar. Partner Rachel D. Kleinberg and associate M. Ryan LaRosa provided tax advice. Associate Vishnu Reddy provided intellectual property advice. Michael Rhodes was the legal assistant on the transaction. All members of the Davis Polk team are based in the Menlo Park office.