We advised the representatives of the initial purchasers on the offering

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Zoetis Inc. of an aggregate principal amount of $2 billion of its 0.25% convertible senior notes due 2029, which includes $250 million aggregate principal amount of notes issued pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. Davis Polk also advised the counterparties to capped call transactions entered into by Zoetis in connection with the offering.

Zoetis is a global leader in the animal health industry, focused on the discovery, development, manufacture and commercialization of medicines, vaccines, diagnostic products and services, biodevices, genetic tests and precision animal health technology.

The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Jenna M. Godfrey and associate Sijia (Scarlett) Huang. The equity derivatives team included partner Mark J. DiFiore, counsel Gregory E. Marchesini and Katharine O’Banion and associates Erik Oakley and Jessica Carter. The tax team included partner Aliza Slansky and associate Yueyu Yang. Members of the Davis Polk team are based in the New York and Washington DC offices.

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