Davis Polk Advises Pattern Energy on Concurrent Offerings of Class A Common Stock and $225 Million Convertible Senior Notes
Davis Polk advised Pattern Energy Group Inc. (Pattern Energy) on its SEC-registered offering of 5,435,000 shares of its Class A common stock and its concurrent Rule 144A offering of $225 million aggregate principal amount of its 4.00% convertible senior notes due 2020 for total gross proceeds of approximately $350 million.
Pattern Energy is an independent power company listed on The NASDAQ Global Select Market and Toronto Stock Exchange. It has a portfolio of 16 wind power projects in the United States, Canada and Chile that use proven, best-in-class technology. Pattern Energy’s wind power projects generate stable long-term cash flows in attractive markets and provide a solid foundation for the continued growth of the business.
The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associates Shane Tintle and Hua Zhao. The Davis Polk equity derivatives team included partners John M. Brandow and Ray Ibrahim and associates Jonathan Armstrong and Won Lee. Partner Michael Mollerus and associates Patrick E. Sigmon and Anne E. McGinnis provided tax advice. Members of the Davis Polk team are based in the New York and Northern California offices.