Latham & Watkins Advises on SoFi Technologies, Inc.’s US$862.5 Million Convertible Senior Notes Offering

SoFi Technologies, Inc., an online personal finance company, closed on March 8, 2024 its US$862.5 million private offering of 1.25% convertible senior notes due 2029, which included the full exercise of the initial purchasers’ option to purchase an additional US$112.5 million aggregate principal amount of notes. The notes were sold in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.

Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by partners Greg Rodgers, Erika Weinberg, and Andrew Blumenthal, with associates Robyn Sablove, Andrew Bentz, Erin Gilgen, and Emma Gilmore. Advice was also provided on equity derivatives matters by partner Catherine Lee and counsel Christopher Yu, with associate Yi Wei; on regulatory matters by partner Arthur Long and counsel Pia Naib and Naim Culhaci; on tax matters by partner Elena Romanova, with associates Jacob Nagelberg and Tessa Young; on sanctions matters by associate Eric Green; on antibribery and anticorruption matters by partner Erin Brown Jones; on data privacy and security matters by partner Robert Blamires, with associate Kathryn Parsons-Reponte; and on intellectual property matters by partner Jeffrey Tochner, with associate Sebastian Moss.