Caterpillar Inc. $1.5 Billion Notes Offering

Davis Polk advised the joint book-running managers and representatives of the underwriters on an SEC-registered offering by Caterpillar Inc. of $1.5 billion aggregate principal amount of notes. The notes were issued in two tranches: $500 million principal amount of 2.600% senior notes due 2029 and $1 billion principal amount of 3.250% senior notes due 2049.

Headquartered in Deerfield, Illinois, Caterpillar Inc. is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

The Davis Polk capital markets team included partner Byron B. Rooney and associates Andrew J. Terjesen and Ariel Rivera. The tax team included partner Mario J. Verdolini and associate Tomislava Dragicevic. Counsel Loyti Cheng and associate Rachel Hoberman provided environmental advice. All members of the Davis Polk team are based in the New York office.