The 1.5% convertible senior notes are due 2029

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Tandem Diabetes Care, Inc. of an aggregate principal amount of $316.25 million of its 1.50% convertible senior notes due 2029, which included $41.25 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to the new capped call transactions entered into in connection with the offering, and also advised the existing counterparties to the existing capped call transactions entered into in connection with Tandem’s issuance of its 1.50% convertible senior notes due 2025 with respect to the partial unwind of such existing capped call transactions.

Tandem Diabetes Care intends to use the proceeds from the convertible notes offering to pay for the cost of capped call transactions, repurchase existing notes, repurchase common stock and for general corporate purposes.

Tandem Diabetes Care, a global insulin delivery and diabetes technology company, manufactures and sells advanced automated insulin delivery systems that reduce the burden of diabetes management, while creating new possibilities for patients, their loved ones, and healthcare providers.

The Davis Polk capital markets team included partner Stephen A. Byeff and associate Robert MacKenzie. The equity derivatives team included partner Mark M. Mendez, counsel Joseph Luizzi and associates Greg Marchesini, Ari Spitzer and Melissa X. Estrada. Partner Lucy W. Farr and associate William Liang provided tax advice. Partner David R. Bauer provided intellectual property advice. All members of the Davis Polk team are based in the New York office.