We advised the initial purchasers on the offering and advised counterparties to related capped call transactions

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Microchip Technology Incorporated of $900 million aggregate principal amount of its 0% convertible senior notes due 2030, including $100 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible 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 partners Alan F. Denenberg and Emily Roberts and associates Sunny Xu and Ashley Jaworoski. The equity derivatives team included partner Mark J. DiFiore and associate Alexander S. Pettingell. The tax team included partner Corey M. Goodman and counsel Yixuan Long. Partner Frank Azzopardi and associate Jordan Khorshad provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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