Salesforce.com $8 billion debt offering
Davis Polk advised the joint book-running managers in connection with an $8 billion SEC-registered debt offering by salesforce.com, inc., consisting of $1 billion of its 0.625% notes due 2024, $1 billion of its 1.500% notes due 2028, $1.5 billion of its 1.950% notes due 2031, $1.25 billion of its 2.700% notes due 2041, $2 billion of its 2.900% notes due 2051 and $1.25 billion of its 3.050% notes due 2061. Salesforce intends to use proceeds from the offering to partially fund its acquisition of Slack Technologies and to finance or refinance one or more green or social projects that satisfy certain criteria.
Based in San Francisco, California, salesforce.com is a cloud computing and social enterprise company that generates its revenue primarily through a customer relationship management product.
The Davis Polk capital markets team included partner Alan F. Denenberg and counsel Donald K. Lang. Counsel Kiara L. Rankin provided tax advice. Partner Frank J. Azzopardi provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.