NXP plans to pay down term loan A2 with note offering proceeds

By Tali David

Minneapolis, Jan. 31 - NXP Semiconductors NV and subsidiaries NXP BV and NXP Funding LLC plan to use the proceeds from a $500 million offering of senior notes due 2021 to repay amounts outstanding under NXP's term loan A2 dated Nov. 18, 2011, according to a news release.

The company aims to decrease the amount of variable-rate debt in its capital structure by making the repayment, NXP noted in the release.

The issuer is a semiconductor company based in Eindhoven, the Netherlands.

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