We advised the representative of the initial purchasers on the offering

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A offering by BWX Technologies, Inc. of $1.25 billion aggregate principal amount of its 0% convertible senior notes due 2030, which included the full exercise of the initial purchasers’ option to purchase an additional $150 million aggregate principal amount of the convertible senior notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into by BWX Technologies in connection with the offering.

Headquartered in Lynchburg, Virginia, BWX Technologies is a specialty manufacturer and developer of nuclear components and technologies. BWX Technologies designs, engineers and manufactures precision naval nuclear components, reactors and nuclear fuel for the U.S government. Additionally, BWX Technologies provides special nuclear materials processing, environmental site restoration services, products and services to customers in the nuclear power industry, critical medical radioisotopes and radiopharmaceuticals, and other advanced nuclear technologies.

The Davis Polk capital markets team included partner Yasin Keshvargar and associates Raphaelle Desaleux and Sabrina Rodriguez. The equity derivatives team included partner Mark M. Mendez, counsel M. Faisal Baloch and associates Ji Hwan Kim and Jessica Carter. Partner Aliza Slansky provided tax advice. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.

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