Akamai Announces Closing of Upsized $3.5 Billion Offering of Convertible Senior Notes

Akamai Announces Closing of Upsized $3.5 Billion Offering of Convertible Senior Notes

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WilmerHale represented Akamai Technologies, Inc. in connection with its private offering of convertible senior notes, the largest US zero-coupon convertible notes transaction in history. The offering consisted of $1.75 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2030 and $1.75 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2032, reflecting the initial purchasers’ exercise of a $250 million greenshoe for each tranche. The offering priced on May 19, 2026 and closed on May 22, 2026.  JP Morgan Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, BofA Securities, Inc. and Goldman Sachs & Co. LLC acted as representatives of the several initial purchasers for the offering.

The WilmerHale team consisted of Molly Fox, Hilary Baker-Jennings, Kevin Cheng, Whitley Horning and Francesca Shaffer (Capital Markets), with support from Jeannette Boot and Megan O’Flynn (Derivatives), Brandt Tierney (Debt Finance), and Meghan Walsh and Ben Kelsey (Tax).

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