Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Coupa Software Incorporated of $1.38 billion aggregate principal amount of its 0.375% convertible senior notes due 2026, including $180 million aggregate principal amount of convertible senior notes purchased pursuant to the exercise of the initial purchasers’ option to purchase additional securities. In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

Based in San Mateo, California, Coupa is a leading provider of business spend management solutions. Coupa offers a comprehensive, cloud-based platform that has connected over one thousand organizations with more than five million suppliers globally. Coupa’s platform provides greater visibility into and control over how companies spend money.

The Davis Polk corporate team included partner Sarah K. Solum and associate Scott A. Blumenkranz. The Davis Polk equity derivatives team included partner John M. Brandow, counsel Justin Michael and Vidal Vanhoof and associates Lindsey B. Meyers-Perez and Yini Chen. The tax team included partner Lucy W. Farr. Partner Frank J. Azzopardi provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.