Vishay Intertechnology $750 million convertible senior notes offering
The 2.25% convertible notes are due 2030
Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A offering by Vishay Intertechnology, Inc. of $750 million aggregate principal amount of its 2.25% convertible senior notes due 2030, which included the full exercise of the initial purchasers’ option to purchase an additional $100 million aggregate principal amount of the convertible senior notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into by Vishay in connection with the offering.
Headquartered in Malvern, Pennsylvania, Vishay Intertechnology, Inc. manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace and medical markets.
The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jason Bassetti and associates Paula Gergen, Rong (Fiona) Huang and Karen Yang. The equity derivatives team included partner Mark J. DiFiore, counsel Hanbing Zhang and associate Jonathan Schlecht. The intellectual property team included partner Pritesh P. Shah. Partner Michael Farber provided tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.