Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Under Armour, Inc. of $440 million aggregate principal amount of its 1.500% convertible senior notes due 2024 (excluding the subsequent exercise in full by the initial purchasers of their option to purchase up to $60 million additional aggregate principal amount of notes which will close on May 28, 2020). In addition, Davis Polk advised the counterparties to the capped call transactions in connection with the offering.

Headquartered in Baltimore, Maryland, Under Armour is a leading inventor, marketer and distributor of branded athletic performance apparel, footwear and accessories. Under Armour’s products are sold worldwide and worn by athletes at all levels, from youth to professional, on playing fields around the globe, as well as by consumers with active lifestyles.

The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associates Andrew J. Terjesen and Sean Michael Pinckney. The Davis Polk equity derivatives team included partner Mark M. Mendez and associates Katharine O’Banion, Hanbing Zhang, Danielle Forni and Charlie Lin. Partner Michael Farber and associate Yixuan Long provided tax advice. All members of the Davis Polk team are based in the New York office.

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