Simpson Thacher represented the underwriters, led by Banc of America Securities LLC and J.P. Morgan Securities Inc., in connection with Adobe’s first-ever public offering of debt securities.
Adobe offered $1.5 billion of debt securities, consisting of $600 million of 3.250% Notes due 2015 and $900 million of 4.750% Notes due 2020. The offering closed on February 1, 2010. Adobe intends to use the net proceeds from this offering for general corporate purposes, including repayment of $1 billion in aggregate principal amount outstanding under its credit facility.
Adobe is one of the largest and most diversified software companies in the world.
The Simpson Thacher team included Bill Hinman, Nidhi Shah, Jared Grauer, Jeffrey Schmidt, Jessica Pan and paralegal Stephanie Alessi (Capital Markets), Daniel Foster (Tax), George Morris and Mandy Hu (Litigation), Keren Siman-Tov (Intellectual Property), Andrew Pagliughi and Jennie Getsin (FINRA and Blue Sky).