Davis Polk Advises VF Corporation on Its $3 Billion Senior Notes Offering

Davis Polk advised VF Corporation in connection with an SEC-registered debt shelf takedown of $1 billion aggregate principal amount of its 2.050% senior notes due 2022, $750 million aggregate principal amount of its 2.400% senior notes due 2025, $500 million aggregate principal amount of its 2.800% senior notes due 2027 and $750 million aggregate principal amount of its 2.950% senior notes due 2030. The proceeds of the offering are to be used to repay the borrowings under VF’s current senior unsecured revolving credit facility, with the remaining proceeds to be used for general corporate purposes. 

Based in Denver, Colorado, VF is a global leader in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. VF owns a broad portfolio of brands in the outerwear, footwear, backpack, luggage, accessory, occupational and performance apparel categories. VF’s largest brands are Vans, The North Face and Timberland.

The Davis Polk capital markets team included partner Deanna L. Kirkpatrick, counsel Jeffrey S. Ramsay and associates David D. Kim and Alexander Kraik. Partners Mario J. Verdolini and Patrick E. Sigmon and associate Adam R. Brownstone provided tax advice. Counsel Charles Shi provided executive compensation advice. Associate Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the New York and Northern California offices.