debt
confidence high
sentiment neutral
materiality 0.90
NXP Semiconductors issues $2.0B of senior notes in three tranches to refinance debt
NXP Semiconductors N.V.
- Issued $1B of 2.650% notes due 2032, $500M of 3.125% notes due 2042, and $500M of 3.250% notes due 2051.
- Proceeds used to redeem $1B of outstanding 3.875% senior unsecured notes due 2022 and for general corporate purposes.
- Notes are senior unsecured obligations guaranteed by NXP Semiconductors N.V. and issued by NXP B.V., NXP Funding LLC, and NXP USA, Inc.
- Registration rights agreement filed with BofA Securities, Deutsche Bank, and Morgan Stanley for exchange or resale of the notes.
- Indenture includes customary change-of-control purchase offer at 101% of principal plus accrued interest.