Latham & Watkins Advises on Lumentum’s US$750 Million Convertible Senior Notes Offering

Lumentum Holdings Inc. has announced the pricing of US$750 million aggregate principal amount of convertible senior notes due 2028 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Lumentum granted the initial purchasers of the notes a 13-day option to purchase up to an additional US$112.5 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on March 8, 2022, subject to customary closing conditions, and is expected to result in approximately US$743.2 million (or approximately US$854.8 million if the initial purchasers fully exercise their option to purchase additional notes) in net proceeds to Lumentum after deducting the initial purchasers' discount and estimated offering expenses payable by Lumentum.

Latham & Watkins represents the initial purchasers in the offering with a capital markets deal team led by New York/Los Angeles partner Greg Rodgers, with New York associates Andrew Blumenthal and James Dorian. Advice was also provided on tax matters by New York partner Elena Romanova; and on data privacy matters by Bay Area partner Robert Blamires, with Bay Area associate Adriana Beach.