Davis Polk advised Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers and representatives of the underwriters on an SEC-registered offering by Caterpillar Inc. of $1.5 billion aggregate principal amount of notes. The notes were issued in three tranches: $500 million principal amount of 0.95% senior notes due 2015, $500 million principal amount of 1.5% senior notes due 2017 and $500 million principal amount of 2.6% senior notes due 2022.
Headquartered in Peoria, Illinois, Caterpillar Inc. is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
The Davis Polk capital markets team included partners Richard A. Drucker and John G. Crowley, associates Marcel Fausten and Christopher R. Bornhorst and law clerks Kavita Paw and Hallie T. Damon. The tax team included partner Kathleen L. Ferrell, associate Yuliya Epifantseva and law clerk Christopher Seck. Counsel Betty M. Huber and associate Kevin J. Klesh provided environmental advice. Rosemarie Melendez was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.
