JP Morgan, Goldman Sachs, Credit Suisse and Jefferies Serve as Initial Purchasers for Beyond Meat’s Upsized $1 Billion Convertible Senior Notes Offering

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented JP Morgan, Goldman Sachs, Credit Suisse, and Jefferies, as initial purchasers for Beyond Meat’s upsized $1 billion convertible senior notes offering and the capped call banks in the related capped call transactions.

The $1,000,000,000 aggregate principal amount of 0% convertible senior notes due 2027 will be used for general corporate purposes and working capital. The offering size was increased from the previously announced offering size of US$750 million aggregate principal amount of notes. In connection with the pricing of the notes, Beyond Meat entered into privately negotiated capped call transactions with financial institutions. The issuance and sale of the notes are scheduled to settle on March 5, 2021. Beyond Meat also granted the initial purchasers of the notes an option to purchase up to an additional US$150 million principal amount of notes, which must be exercised within 13 days of initial issuance.

A multi-disciplinary Paul Hastings team served as disclosure, product and derivatives counsel for the initial purchasers and the capped call banks, with a team led by partners Christopher Austin, Joyce Xu, Doug Getten, and Joseph Opich, and including of counsel Diona Park; and associates Shai Marshall, Bianca Lazar, Matthew Smith, and Brendan Counihan; and law clerk Matthew Schob.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.