Parsons $400 million convertible senior notes offering
Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Parsons Corporation of $400 million aggregate principal amount of its 0.250% convertible senior notes due 2025, which includes the full exercise of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to convertible note hedge and warrant transactions in connection with the offering.
Parsons Corporation is a leading provider of technology-driven solutions in the defense, intelligence and critical infrastructure markets. Parsons provides software and hardware products, technical services and integrated solutions to support its customers’ missions, including through its significant expertise and differentiated capabilities in key areas of cybersecurity, intelligence, missile defense, C5ISR, space, geospatial and connected communities. The common stock is listed on the New York Stock Exchange under the symbol “PSN”.
The Davis Polk corporate team included partner Nicholas A. Kronfeld and associates Eryn E. Gordon, Greg Swanson and Tomislava Dragicevic. The equity derivatives team included partners Mark M. Mendez and Mark J. DiFiore, counsel Faisal Baloch and associates Annie Li, Danielle Forni and Yini Chen. The tax team included partner Lucy W. Farr and associate Ben Levenback. All members of the Davis Polk team are based in the New York office.