Blackhawk Network Holdings, Inc. $500 Million Convertible Notes Offering

Davis Polk advised the joint bookrunning managers in connection with a Rule 144A offering by Blackhawk Network Holdings, Inc. of $500 million aggregate principal amount of 1.50% convertible senior notes due 2022, which included $40 million aggregate principal amount of notes from the full exercise of the initial purchasers' option to purchase additional notes.

In addition, Davis Polk advised the counterparties to the call spread transactions entered into in connection with the convertible senior notes offering.

Based in the San Francisco Bay Area, Blackhawk Network is a multinational prepaid payment network utilizing proprietary technology to offer a broad range of prepaid gift, telecom and debit cards in physical and electronic forms, as well as related prepaid products and payment services.

The Davis Polk capital markets team included partner Sophia Hudson and associates Julia Danforth, Pedro J. Bermeo and Nara Lee. The Davis Polk equity derivatives team included partners Ray Ibrahim and Mark M. Mendez, counsel Derek Walters and associates Mark J. DiFiore, Won Lee and Hanbing Zhang. All members of the Davis Polk team are based in the New York office.