debt
confidence high
sentiment neutral
materiality 0.70
Micron issues $1B of 5.80% senior notes due 2035; redeems $500M of 4.975% notes due 2026
MICRON TECHNOLOGY INC
- Issued $1,000,000,000 aggregate principal of 5.80% senior notes maturing January 15, 2035.
- Net proceeds will fund redemption of outstanding 4.975% Senior Notes due 2026 ($500M principal) and general corporate purposes.
- Notes redeemable at Micron's option before October 15, 2034 at treasury rate plus 20 bps; thereafter at par.
- Change of control trigger requires Micron to offer repurchase at 101% of principal plus accrued interest.