The convertible senior notes are due 2027 and 2029

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Snowflake Inc. of $1.15 billion aggregate principal amount of its 0.00% convertible senior notes due 2027, including $150.0 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes and $1.15 billion aggregate principal amount of its 0.00% convertible senior notes due 2029, including $150.0 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes. In addition, Davis Polk advised the counterparties to capped call transactions entered into in connection with the offering.

Snowflake Inc. makes enterprise AI easy, efficient and trusted. Thousands of companies around the globe, including hundreds of the world’s largest, use Snowflake’s AI Data Cloud to share data, build applications, and power their business with AI.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Beth LeBow and associates Michael Kostukovsky and Jared Madnick. The equity derivatives team included partner Mark M. Mendez, counsel Justin Michael and associate Melissa X. Estrada. The tax team included partner Aliza Slansky and associate Tyler Scheiner. Partner Matthew J. Bacal provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

Copy link to share post