Motorola Solutions sets redemption price for $400 million 5.375% notes

By Jennifer Chiou

New York, June 11 - Motorola Solutions, Inc. announced that it will pay a total consideration of $1,025.19 per $1,000 notes in the June 14 redemption of all $400 million of its 5.375% senior notes due Nov. 15, 2012.

The redemption price is comprised of $1,020.86 plus $4.33 accrued interest.

The redemption price was calculated using the yield to maturity of the 1.375% Treasury due Nov. 15, 2012 plus a fixed spread of 25 basis points.

As announced, the company will fund the redemption using a portion of the proceeds it received from the sale of its $750 million of 3.75% senior notes due 2022.

Bank of New York Mellon Trust Co., NA is the trustee.

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.