NXP Semiconductors to prepay $2.21 billion of floating-rate term loans

By Tali Rackner

Norfolk, Va., Feb. 8 – NXP Semiconductors NV subsidiaries NXP BV and NXP Funding LLC gave notice that it will prepay all amounts outstanding under its floating-rate term loans E, D and F, according to an 8-K filing with the Securities and Exchange Commission.

There is currently $388 million outstanding under the floating-rate term loan E due March 2017, $387 million outstanding under the floating-rate term loan D due January 2020 and $1,436,000,000 outstanding under the term loan F due December 2020.

The company will also pay accrued interest and fees.

Funds for the prepayments will come from the proceeds of the previously announced completion of the divestiture of the standard products business of NXP, the filing said.

NXP is an Eindhoven, Netherlands, maker of semiconductors.

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