The high-yield notes are due 2032

Davis Polk advised the representative of the initial purchasers on a Rule 144A / Regulation S offering by Cloud Software Group, Inc. of $1.8 billion aggregate principal amount of its 8.25% senior secured notes due 2032. Cloud Software used the net proceeds from the offering to prepay outstanding obligations under its senior secured credit facilities and for general corporate purposes.

Cloud Software is a leading provider of mission-critical solutions to enterprise organizations around the world. Cloud Software was created by the combination of Citrix and TIBCO, two leading global enterprise-focused software businesses.

The Davis Polk capital markets team included partner John B. Meade, counsel Joze Vranicar and associates Soo Kyung Chae and Cheridan Christnacht. The finance team included partner Jason Kyrwood, counsel Demian von Poelnitz and associate Jonathan Morford. Partner David R. Bauer provided intellectual property advice. Counsel Yixuan Long and associate Omar Hersi provided tax advice. All members of the Davis Polk team are based in the New York office.