KLA-Tencor plans to redeem $750 million 6.9% senior notes due 2018

By Susanna Moon

Chicago, Nov. 17 – KLA-Tencor Corp. plans to redeem its $750 million outstanding principal amount of 6.9% senior notes due 2018.

Funding for the redemption will come from the company’s $1.25 billion five-year senior unsecured revolving credit and term loan facility, according to a company press release.

The redemption will occur “as promptly as practicable” after the closing of the facility, the press release said.

Proceeds of the facility also will be used, along with the proceeds from a registered offering of about $2.5 billion principal amount of its senior notes and cash on hand, to fund a special dividend to stockholders of about $2.75 billion and for other general corporate purposes.

The Milpitas, Calif.-based company is a supplier of process control and yield management services for the semiconductor and related nanoelectronics industries.

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