Insulet $419 million repurchases of convertible senior notes
We advised the agent on the transaction
Davis Polk advised the agent in connection with privately negotiated repurchases by Insulet Corporation of approximately $419 million of its existing 0.375% convertible senior notes due 2026. In addition, Davis Polk advised the counterparties to the existing capped call transactions entered into in connection with the issuance of such convertible senior notes with respect to the termination of a portion of such capped call transactions that corresponds to the amount of convertible senior notes repurchased.
Insulet, headquartered in Massachusetts, is an innovative medical device company dedicated to simplifying life for people with diabetes and other conditions through its Omnipod product platform. The Omnipod insulin management system provides a unique alternative to traditional insulin delivery methods.
The Davis Polk capital markets team included partner Yasin Keshvargar and counsel Michael Stromquist. The equity derivatives team included partner Mark J. DiFiore and counsel Hanbing Zhang. All members of the Davis Polk team are based in the New York office.