Microchip issues $1B of 5.050% Senior Notes due 2029 to repay commercial paper

MICROCHIP TECHNOLOGY INC

Issued $1,000,000,000 aggregate principal of 5.050% Senior Notes maturing March 15, 2029.
Net proceeds of ~$994.73 million after underwriting discount; used to repay commercial paper debt.
Notes guaranteed by six subsidiary guarantors including Atmel, Microsemi, and SST.
Interest payable semi-annually on March 15 and September 15, starting September 15, 2024.
Redemption before Feb 15, 2029 at Treasury rate plus 15 bps; thereafter at par plus accrued interest.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MICROCHIP TECHNOLOGY INC entered into First Supplemental Indenture with Computershare Trust Company, National Association valued at $1,000,000,000 aggregate principal amount (effective 2024-03-07).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, National Association
Value: $1,000,000,000 aggregate principal amount
Effective: 2024-03-07

Exact text from the filing

On March 7, 2024, Microchip Technology Incorporated, a Delaware corporation (the “Company”), issued $1,000,000,000 aggregate principal amount of its 5.050% Senior Notes due 2029 (the “Notes”) in a public offering.

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Source: SEC EDGAR

accession 0001193125-24-062263

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