Prosus $12 billion program update and $5.3 billion equivalent notes offerings
The investment-grade offering comprises six tranches of notes
Davis Polk advised the arranger in connection with the update of Prosus N.V.’s $12 billion global medium-term note program.
Davis Polk also advised the joint global coordinators and bookrunners in connection with Rule 144A / Regulation S offerings by Prosus of $1 billion principal amount of 3.257% notes due 2027, $1 billion principal amount of 4.193% notes due 2032 and $1.25 billion principal amount of 4.987% notes due 2052, €500 million principal amount of 1.207% notes due 2026, €600 million principal amount of 2.085% notes due 2030 and €650 million principal amount of 2.778% notes due 2034 under the program.
Based in Amsterdam, the Netherlands, Prosus N.V. is a global consumer internet group operating across a variety of platforms and geographies. Prosus is one of the largest technology investors in the world, with businesses and investments serving more than two billion users in well over 100 countries and markets.
The Davis Polk corporate team included partner Reuven B. Young and associate Tanu Sinha. European counsel John Taylor provided English law advice. Counsel Will Schisa provided regulatory advice. The U.S. tax team included counsel Alon Gurfinkel and associate Kelli A. Rivers. Members of the Davis Polk team are based in the London and Washington DC offices.