We advised the joint book-running managers on the offering

Davis Polk advised the joint book-running managers in connection with an SEC-registered offering by Ferguson Enterprises Inc. of $700 million aggregate principal amount of its 4.800% senior notes due 2029 and $500 million aggregate principal amount of its 5.600% senior notes due 2036. The notes are guaranteed on a senior unsecured basis by Ferguson UK Holdings Limited.

Ferguson is the largest value-added distributor serving the water and air specialized professional in its $340 billion residential and non-residential North American construction market. Ferguson helps make its customers’ complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, heating, ventilation and air conditioning, appliances and lighting to pipes, valves and fittings, water and wastewater solutions and more.

The Davis Polk capital markets team included partner John B. Meade and associate Megan P. Phansalkar. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Members of the Davis Polk team are based in the New York and London offices.

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