We advised the initial purchasers on the Rule 144A convertible notes offering

Davis Polk advised representatives of the several initial purchasers in connection with a Rule 144A offering by Bandwidth Inc. of $250 million aggregate principal amount of its 0.50% convertible senior notes due 2028. In addition, Davis Polk advised the counterparties to capped call transactions in connection with the offering.

Based in Raleigh, North Carolina, Bandwidth is a cloud-based communications platform for enterprises. Its solutions include a broad range of software application programming interfaces for voice and text functionality and an owned and managed, purpose-built Internet protocol voice network, one of the largest in the nation.

The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Radoslaw Michalak and associate Summer Xia. The equity derivatives team included partner Derek Walters and associate Lindsey B. Meyers-Perez. The tax team included partner Po Sit and associate Ben Levenback. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Jay Frankel. Members of the Davis Polk team are based in the New York and London offices.