Motorola intends to repay 5.375% notes with new senior note offering

By Tali David

Minneapolis, May 8 - Motorola Solutions, Inc. plans to repay its $400 million of 5.375% notes with proceeds from a new senior note offering, according to a 424B5 filed with the Securities and Exchange Commission.

Motorola also said that it intends to exercise its make-whole redemption rights under the indenture governing the notes to redeem them prior to their maturity.

The company also plans to use the proceeds from the senior note offering for general corporate purposes, which may include working capital, fixed-asset expenditures, pension contributions, acquisitions, debt refinancing, common stock repurchases or other capital transactions.

Schaumburg, Ill.-based Motorola provides technologies, products, systems and services, including wireless handsets, wireless accessories and digital entertainment devices.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.