By Andrea Heisinger
Omaha, April 29 - KLA-Tencor Corp. priced an upsized $750 million of 6.9% 10-year senior notes (Baa1/BBB/BBB) on Tuesday to yield Treasuries plus 320 basis points, market sources said.
The notes carry a change-of-control put of 101%.
Merrill Lynch, Pierce, Fenner & Smith Inc. was the bookrunner.
Proceeds will be used for general corporate purposes, including strategic acquisitions and stock repurchase.
The semiconductor and microelectronics company is based in San Jose, Calif.
| Issuer: | KLA-Tencor Corp.
|
| Issue: | Senior notes
|
| Amount: | $750 million, increased from $500 million
|
| Maturity: | 2018
|
| Bookrunner: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Coupon: | 6.9%
|
| Spread: | Treasuries plus 320 bps
|
| Change-of-control put: | 101%
|
| Trade date: | April 29
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
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