Latham & Watkins Advises Parsons in Upsized US$400 Million Convertible Senior Notes Offering

Parsons Corporation, a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, completed its private offering of US$400 million aggregate principal amount of its .25% convertible senior notes due 2025. In connection with the offering, the company entered into convertible note hedge and warrant transactions to offset potential dilution. The offering was upsized from the previously announced offering of US$300 million aggregate principal amount of notes.

Latham & Watkins LLP represented Parsons in the offering with a corporate team led by Los Angeles partner Steven Stokdyk and New York partner Greg Rodgers, with associates Andrew Blumenthal, Philip Dear, Jordan Naftalis, and Grace Garcea. Advice was also provided on equity derivatives matters by New York partner Catherine Lee, with associates Christopher Yu and Kate Kim; and on tax matters by New York partners Bora Bozkurt and Elena Romanova, with associates Aaron Bernstein and Ron Moore.