Flex Ltd. $450 Million Notes Offering with Concurrent Cash Tender Offer

Davis Polk advised the joint book-running managers in connection with an offering by Flex Ltd. of $450 million aggregate principal amount of its 4.875% notes due 2029.

Davis Polk is also advising the dealer managers in connection with Flex Ltd.’s concurrent cash tender offer to purchase any and all $500 million aggregate principal amount of its outstanding 4.625% notes due 2020. The concurrent cash tender offer will be funded, together with available cash, with the proceeds of the notes offering.

Headquartered in Singapore, Flex is a globally-recognized provider of Sketch-to-Scale services - innovative design, engineering, manufacturing and supply chain services and solutions - from conceptual sketch to full-scale production. Flex designs, builds, ships and manages complete packaged consumer and enterprise products, from medical devices and connected automotive systems to sustainable lighting and cloud and data center solutions, for companies of all sizes in various industries and end-markets.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jeffrey Gould and associate Benson Richards. The tax team included partner Rachel D. Kleinberg and associate Jonathan Saltz. The intellectual property and technology team included partner Frank J. Azzopardi and associates Christoper C. Woller and Sean Michael Pinckney. The regulatory team included counsel Jeanine P. McGuinness. Members of the Davis Polk team are based in the Northern California, New York and Washington DC offices.