The 0.75% convertible notes are due 2030

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Microchip Technology Incorporated of $1.25 billion aggregate principal amount of its 0.75% convertible senior notes due 2030, which included $150 million aggregate principal amount of convertible senior notes issued pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

Headquartered in Chandler, Arizona, Microchip Technology Incorporated develops, manufactures and sells specialized semiconductor products used by its customers for a wide variety of embedded control applications.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Joseph G. Marano, Julia Molo and Matthew Franklin. The equity derivatives team included partner Mark J. DiFiore and associates Alexander S. Pettingell and Itay Kazaz. The tax team included counsel Aliza Slansky and associate Justin Corvino. Partner Frank J. Azzopardi provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.