By Andrea Heisinger
Omaha, April 30 - KLA-Tencor Corp. priced an upsized $750 million of 6.9% 10-year senior notes (Baa1/BBB/BBB) to yield Treasuries plus 320 basis points, according to an FWP filing with the Securities and Exchange Commission.
Full terms became available Wednesday for the issue that was increased in size from $500 million.
The notes priced at 99.276 to yield 7.002%, with a make-whole redemption option of Treasuries plus 50 bps.
The notes feature a change-of-control put of 101%.
Merrill Lynch, Pierce, Fenner & Smith Inc. was the bookrunner.
Co-managers were Lehman Brothers Inc. and Credit Suisse Securities.
Proceeds will be used for general corporate purposes, including strategic acquisitions and stock repurchases.
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: | May 1, 2018
|
| Bookrunner: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Co-managers: | Lehman Brothers Inc., Credit Suisse Securities
|
| Coupon: | 6.9%
|
| Price: | 99.276
|
| Yield: | 7.002%
|
| Spread: | Treasuries plus 320 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | April 29
|
| Settlement date: | May 2
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
© 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.
