By Wendy Van Sickle
Columbus, Ohio, March 13 – KLA-Tencor Corp. priced $1.2 billion senior notes (Baa1/BBB) in tranches due 2029 and 2049, according to a news release issued on Wednesday evening.
The company priced $800 million of 10-year 4.1% notes.
KLA-Tencor priced $400 million of 30-year 5% notes.
J.P. Morgan Securities LLC is the active bookrunner.
BofA Merrill Lynch, Citigroup Global Markets Inc., MUFG and Wells Fargo Securities, LLC are joint bookrunners.
Proceeds will be used to partially refinance existing debt.
The company announced on Jan. 10 that it intends to change its name to KLA Corp. effective in July 2019.
KLA-Tencor is a Milpitas, Calif.-based semiconductor equipment developer.
| Issuer: | KLA-Tencor Corp.
|
| Issue: | Senior notes
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| Amount: | $1.2 billion
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| Bookrunner: | J.P. Morgan Securities LLC
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| Trade date: | March 13
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| Settlement date: | March 15
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| Ratings: | Moody’s: Baa1
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| Standard & Poor’s: BBB
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| Distribution: | SEC-registered
|
|
|
| 10-year notes
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| Amount: | $800 million
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| Maturity: | 2029
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| Coupon: | 4.1%
|
|
|
| 30-year notes
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| Amount: | $400 million
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| Maturity: | 2049
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| Coupon: | 5%
|
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