Davis Polk advised the representatives of the several underwriters in connection with an SEC-registered offering of $900 million aggregate principal amount of 2.300% senior notes due 2030 by Motorola Solutions, Inc.
Davis Polk is also advising the dealer managers in connection with Motorola Solutions, Inc.'s concurrent cash tender offer for up to an aggregate purchase price of $215 million of its 7.500% debentures due 2025, 6.500% debentures due 2025, 3.500% senior notes due 2023 and 4.000% senior notes due 2024.
Motorola Solutions, Inc. intends to use the net proceeds from the offering to redeem Motorola Solutions, Inc.’s outstanding 3.750% senior notes due 2022, to repurchase the notes that are tendered in the tender offer and to pay transaction-related fees and expenses of the tender offer. Any excess net proceeds will be used for general corporate purposes.
Motorola Solutions, Inc. is a leading global provider of mission-critical communications. Its technology platforms in communications, command center software, video security and analytics make cities safer and help communities and businesses thrive.
The Davis Polk corporate team included partner Byron B. Rooney and associates Jolie Yang, Moses Farzan Nekou and Adam Horvath. Partner Mario J. Verdolini and associate Eitan Ulmer provided tax advice. Partner Pritesh P. Shah and associate Yana Kipnis provided intellectual property advice. Counsel Loyti Cheng and associate Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.