VF €1 billion senior notes offering, including €500 million in green bonds
We advised VF on the investment-grade debt offering
Davis Polk advised VF Corporation in connection with an SEC-registered debt offering of €500 million aggregate principal amount of its 4.125% senior notes due 2026 and €500 million aggregate principal amount of its 4.250% senior notes due 2029. The proceeds of the offering are to be used for general corporate purposes, including the repayment of borrowings under VF’s commercial paper program. An amount equivalent to the net proceeds of the offering of the 2029 notes is to be used to finance, in whole or in part, certain eligible projects designed to contribute to selected sustainable development goals.
Founded in 1899, VF Corporation is one of the world’s largest active-lifestyle companies. It connects people to the activities and experiences they cherish most through a portfolio of outdoor, active, workwear and streetwear brands including Vans, The North Face, Timberland and Dickies.
The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Roshni Banker Cariello and associates Jonathan I. Stempel and Dennis Chu. The tax team included partner Mario J. Verdolini, counsel Alon Gurfinkel and associate Ya Sheng Lin. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate S. Dream Montgomery. Counsel Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the New York and London offices.