The 3.75% convertible senior notes are due 2030

Davis Polk advised the representative of the several initial purchasers, in connection with a Rule 144A offering by ADTRAN Holdings, Inc. of $201.25 million aggregate principal amount of its 3.75% convertible senior notes due 2030, which included $26.25 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes.

In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.

Headquartered in Huntsville, Alabama, Adtran is a provider of open, disaggregated networking and communications solutions that enable voice, data, video and internet communications across network infrastructure.

The Davis Polk corporate team included partners Alan F. Denenberg and Beth LeBow and associates Brendon S. Brown, Jared Madnick and Ryan Pham. The equity derivatives team included partner Mark J. DiFiore, counsel Gregory E. Marchesini and associate Ji Hwan Kim. Partner Corey M. Goodman provided tax advice. Partner Pritesh P. Shah provided intellectual property and data privacy advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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