By Lisa Kerner
Charlotte, N.C., April 11 – Infineon Technologies AG issued $935 million of notes in a U.S. private placement. It was the company’s first such transaction.
The notes were issued as $350 million of eight-year notes, $350 million of 10-year notes and $235 million of 12-year notes.
Bank of America Merrill Lynch and Goldman Sachs acted as joint lead agents.
A diversified group of 28 institutional investors participated in the transaction, according to a news release.
Proceeds will be used to replace the five-year dollar term loan granted to Infineon in August 2014 for the acquisition of International Rectifier Corp.
“Infineon’s successful U.S. private placement debut underlines our broad access to financing sources and significantly optimizes our debt maturity profile,” chief financial officer Dominik Asam said in the news release.
According to Infineon, the transaction represents the largest cross-border U.S. private placement in more than two years.
Neubiberg, Germany-based Infineon is a semiconductor company.
| Issuer: | Infineon Technologies AG
|
| Issue: | Notes
|
| Amount: | $935 million
|
| Maturity: | Eight years for $350 million, 10 years for $350 million and 12 years for $235 million
|
| Lead agents: | Bank of America Merrill Lynch and Goldman Sachs
|
| Announced: | April 11
|
| Distribution: | Private placement
|
© 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.
