Davis Polk advised the joint book-running managers in connection with a $575 million SEC-registered debt offering by Flex Ltd. The offering consisted of $250 million aggregate principal amount of its 3.750% notes due 2026, which will form a single series with the $425 million aggregate principal amount of 3.750% notes due 2026 Flex issued on May 12, 2020, and $325 million aggregate principal amount of its 4.875% notes due 2030, which will form a single series with the $325 million aggregate principal amount of its 4.875% notes due 2030 Flex issued on May 12, 2020.
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 and associates Benson Richards, Daniel Fox and Ganiatu Afolabi. The tax team included partner Michael Farber and associate Ben Levenback. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Jennifer Leather. Members of the Davis Polk team are based in the Northern California and New York offices.