The convertible senior notes are due 2033

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Akamai Technologies, Inc. of an aggregate principal amount of $1.725 billion of its 0.25% convertible senior notes due 2033, which included $225 million aggregate principal amount of convertible senior notes issued pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to convertible note hedge and warrant transactions in connection with the offering.

Headquartered in Cambridge, Massachusetts, Akamai is the cybersecurity and cloud computing company that powers and protects business online. Its market-leading security solutions, superior threat intelligence and global operations team provide defense-in-depth to safeguard enterprise data and applications everywhere. Akamai’s full-stack cloud computing solutions deliver performance and affordability on the world’s most distributed platform.

The Davis Polk capital markets team included partner Stephen A. Byeff and associate Jenny (Jingjing) Li. The equity derivatives team included partner Mark M. Mendez, counsel Katharine O’Banion and Gregory E. Marchesini and associate Ji Hwan Kim. The tax team included partners Lucy W. Farr and Aliza Slansky. The intellectual property team included partner Pritesh P. Shah. Counsel Loyti Cheng provided environmental advice. All members of the Davis Polk team are based in the New York office.

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