Sea Limited $1.15 Billion Convertible Senior Notes Offering

Davis Polk advised the initial purchaser in connection with a Rule 144A and Regulation S offering by Sea Limited of $1.15 billion aggregate principal amount of its 1.00% convertible senior notes due 2024, which includes a $150 million option to purchase additional notes, which was exercised in full. In addition, Davis Polk advised the counterparties to capped call transactions entered into in connection with the offering.

Sea Limited operates three platforms across digital entertainment, ecommerce and digital financial services. Its mission is to better the lives of the consumers and small businesses of Southeast Asia and Taiwan with technology.

 The Davis Polk corporate team included partner James C. Lin and registered foreign lawyers Jennifer (Yujia) Jiang and Moran Zhang. The equity derivatives team included partners John M. Brandow and Yan Zhang and associate Katharine O'Banion. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.