Simpson Thacher Advises on Apple’s $1 Billion Formosa Bond Offering in Taiwan
Simpson Thacher represented the manager, Deutsche Bank AG, Taipei Branch, and the structuring agents, Goldman, Sachs & Co., Merrill Lynch, Fenner, Pierce & Smith Incorporated and Morgan Stanley & Co. LLC, in connection with the registered public offering by Apple Inc. (NASDAQ: AAPL) of $1 billion aggregate principal amount of 4.3% notes due 2047 (the “notes”). The notes are listed on the Taipei Exchange in the Republic of China (Taiwan). The net proceeds from the offering will be used for general corporate purposes, including repurchases of common stock and payment of dividends under Apple’s program to return capital to shareholders, funding for working capital, capital expenditures, acquisitions and repayment of debt.
The Simpson Thacher team for the offering included Kevin Kennedy, Dan Webb, Kelli Schultz, Colin Lloyd and Jeremy Bethel (Capital Markets); and Jason Vollbracht and Tanvi Mirani (Tax).