Micron settles $1.25B dual-tranche senior notes offering at 5.875%-6.75% rates

MICRON TECHNOLOGY INC

Issued $500M add-on to 6.750% notes due 2029 (previous $750M) and $750M of 5.875% notes due 2033.
Net proceeds for general corporate purposes, may include capital expenditures.
2029 notes priced at 104.487% (yield 5.914%); 2033 notes at 99.933% (yield 5.884%).
Notes are unsecured senior obligations with customary covenants and change-of-control put at 101%.
Interest payable semi-annually: May/Nov for 2029 notes, Feb/Aug for 2033 notes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MICRON TECHNOLOGY INC entered into Sixth Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $750,000,000 aggregate principal amount of 5.875% senior notes due 2033 (effective 2023-02-09).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $750,000,000 aggregate principal amount of 5.875% senior notes due 2033
Effective: 2023-02-09

Exact text from the filing

On February 9, 2023, Micron Technology, Inc. (“Micron”) settled its offering of (i) an additional $500,000,000 aggregate principal amount of 6.750% senior notes due 2029 (the “2029 Notes”) and (ii) $750,000,000 aggregate principal amount of 5.875% senior notes due 2033 (the “2033 Notes” and, together with the 2029 Notes, the “Notes”).

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Source: SEC EDGAR

accession 0000723125-23-000014

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