JWCA advises xilinx on its $1 billion debut bond offering

march 2014 | read press release

Transaction Background

JWCA was hired by Xilinx to evaluate its capital structure:

• Assisted the Xilinx team with economic analytics around the existing 3.125% Junior Subordinated Convertible Debentures due 2037, and ultimately recommended its redemption

• Provided detailed support and analysis on the redemption and conversion process of its Convertible Debentures due 2037

• Presented capital structure alternatives to the Board; created detailed analysis comparing different capital tools and its impact on Xilinx

• Advised Xilinx on a process to achieve best terms from the bookrunners

• Assisted the Xilinx team with documentation, accounting, and tax review

• Provided advice, support and analysis during the execution

Results

• JWCA helped Xilinx change its capital structure.  They called their existing convertible, replacing it with an investment-grade bond with very low interest rates of 2.125% (5yr) and 3.00% (7yr).  The transaction was EPS positive and well-received by investors.