Freescale to redeem 10 1/8% notes, some 8.05% notes via stock issue

By Susanna Moon

Chicago, Feb. 10 - Freescale Semiconductor, Ltd. announced plans to redeem all of the outstanding 10 1/8% senior subordinated notes due 2016 and some of the outstanding 8.05% senior notes due 2020 using proceeds of a public offering of stock.

The company plans to offer 30 million common shares with a 30-day option for up to 4.5 million additional shares, according to a Freescale press release.

Freescale plans to contribute all of the net proceeds from the offering to its indirect wholly owned subsidiary and main U.S. operating entity, Freescale Semiconductor, Inc., the release noted.

The Austin, Texas-based semiconductor and microelectronics company.

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