Hong Kong - Sea Limited $1.15 Billion Convertible Senior Notes Offering.

Legal News & Analysis - Asia Pacific - Hong Kong - Capital Markets

27 May, 2020


Davis Polk advised the initial purchaser in connection with a Rule 144A and Regulation S offering by Sea Limited of $1.15 billion aggregate principal amount of its 2.375% convertible senior notes due 2025, which includes a $150 million option to purchase additional notes, which was exercised in full. In addition, Davis Polk advised the counterparties to capped call transactions entered into in connection with the offering. 


Sea Limited operates three core businesses across digital entertainment, ecommerce and digital payments and financial services. Its mission is to better the lives of consumers and small businesses with technology.


The Davis Polk corporate team included partner James C. Lin, and registered foreign lawyers Jennifer (Yujia) Jiang and Mendtuvshin (Mendee) Enkhtaivan. The equity derivatives team included partners John M. Brandow and Yan Zhang, associates Hanbing Zhang, Joseph Luizzi and Danielle Forni. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.