Daily News: December 9, 2013

Simpson Thacher Represents Microsoft in $3.25B Debt Offering

Simpson Thacher announced it represented Microsoft $3.25 billion U.S. dollar-denominated debt offering and in €3.5 billion euro-denominated debt offering. Net proceeds from the offerings will be used for general corporate purposes, which may include funding for working capital, capital expenditures, repurchases of capital stock, acquisitions and repayment of existing debt.

The underwriters for both offerings were led by Barclays, HSBC, J.P. Morgan and Wells Fargo.

Microsoft offered €1.75 billion of 2.125% notes due 2021, €1.75 billion of 3.125% notes due 2028, $1.25 billion of 1.625% notes due 2018, $1.5 billion of 3.625% notes due 2023 and $500 million of 4.875% notes due 2043.

The euro-denominated notes are listed on the Global Exchange Market, which is the exchange regulated market of the Irish Stock Exchange.

The Simpson Thacher team for the debt offerings included William B. Brentani, Kirsten L. Davis, Sara L. Terheggen, Emiko Kurotsu and Stephanie A. Richards (Capital Markets), and Katharine Moir and Noah Metz (Tax).