NXP Semiconductors prices tender for 4.125% notes due 2020

By Wendy Van Sickle

Columbus, Ohio, June 17 – NXP Semiconductors NV priced its cash tender offer for any and all of its $600 million of 4.125% senior notes due 2020, according to a press release.

The tender offer consideration for each $1,000 principal amount will be $1,015.30, which was determined using the 1.5% U.S. Treasury note due June 15, 2020 plus a fixed spread of 50 basis points, as of 2 p.m. ET on June 17.

Holders who tender their notes by the expiration time of 5 p.m. ET on June 17 will receive the tender offer consideration.

Holders will also receive accrued interest.

Holders may withdraw their tendered notes prior to the expiration.

Settlement is expected for June 18.

The tender offer was launched on June 11 and is conditioned on NXP completing an offering of new senior notes.

The company priced on June 11 $1.75 billion of new notes, including $750 million of 3.875% seven-year notes and $1 billion of 4.3% 10-year notes.

Any of the 2020 notes that remain outstanding after the tender offer may be redeemed.

BofA Securities Inc. (980 387-3907 collect or 888 292-0070 toll-free), Citigroup (212 723-6106 collect or 800 558-3745 toll-free) and Goldman Sachs & Co. LLC (212 902-6351 collect or 800 828-3182 toll-free) are the dealer managers.

D.F. King & Co., Inc. (212 269-5550 for banks and brokers, 800 488-8095 for all others; nxpi@dfking.com) is the tender agent.

NXP is an Eindhoven, Netherlands, maker of chips for secure connectivity.

© 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.