PPG’s €1 Billion Notes Offering

K&L Gates advised PPG Industries, while Davis Polk advised the joint book-running managers in the offering.

PPG Industries, Inc. executed its offering of €300 million aggregate principal amount of 1.875% notes due 2025 and €700 million aggregate principal amount of 2.750% notes due 2029.

BNP Paribas and J.P. Morgan Securities plc acted as  joint book-running managers for the offering.

Founded in 1883 with headquarters in Pittsburgh, PPG operates in more than 75 countries and reported net sales of $16.8 billion in 2021. PPG supplies paints, coating and specialty materials to customers in construction, consumer products, industrial and transportation markets and aftermarkets.

The Davis Polk capital markets team included partner Byron B. Rooney (Picture), counsel Jennifer Ying Lan and associates Tianwei Liu and José Miguel Fernández. The environmental team included counsel Loyti Cheng and associate Timothy J. Sullivan. Counsel Alon Gurfinkel and associates Omer Harel and Michael Mirabella provided tax advice. 

Involved fees earner: Loyti Cheng – Davis Polk & Wardwell; José Miguel Fernández – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Tianwei Liu – Davis Polk & Wardwell; Michael Mirabella – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Timothy Sullivan – Davis Polk & Wardwell; Jennifer Ying Lan – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: BNP Paribas; J.P. Morgan Securities LLC;