Under Armour $250 million convertible notes exchanges
Davis Polk advised the financial advisers to Under Armour, Inc. in connection with Under Armour’s privately negotiated exchanges of $250 million aggregate principal amount of its 1.50% convertible senior notes due 2024 for cash and shares of Under Armour’s Class C common stock. In addition, Davis Polk advised the counterparties in respect of the portion capped call transactions being terminated.
Headquartered in Baltimore, Maryland, Under Armour is a leading inventor, marketer and distributor of branded athletic performance apparel, footwear and accessories. Under Armour’s products are sold worldwide and worn by athletes at all levels, from youth to professional, on playing fields around the globe, as well as by consumers with active lifestyles.
The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Radoslaw Michalak and associate Saratu M. Kitchener. The Davis Polk equity derivatives team included partner Mark M. Mendez and associate Lindsey B. Meyers-Perez. Members of the Davis Polk team are based in the New York and London offices.