The investment-grade offering comprises seven tranches of notes

Davis Polk advised the representatives of the underwriters in connection with an SEC-registered offering by Cisco Systems, Inc. of $1 billion aggregate principal amount of 4.900% senior notes due 2026, $2 billion aggregate principal amount of 4.800% senior notes due 2027, $2.5 billion aggregate principal amount of 4.850% senior notes due 2029, $2.5 billion aggregate principal amount of 4.950% senior notes due 2031, $2.5 billion aggregate principal amount of the company’s 5.050% senior notes due 2034, $2 billion aggregate principal amount of 5.300% senior notes due 2054 and $1 billion aggregate principal amount of 5.350% senior notes due 2064.

Cisco designs and sells a broad range of technologies that power the internet. It integrates its product portfolios across networking, security, collaboration, applications and the cloud to create highly secure, intelligent platforms for its customers’ digital businesses. 

The Davis Polk corporate team included partner Alan F. Denenberg and associates Jonathan Bye, Bex Childress and Rebecca Lei. Partner Mario J. Verdolini and associates Ted Lee and Alex Ang Gao provided tax advice. Partner Matthew J. Bacal and associate Jordan Khorshad provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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