Tyco Electronics eyes $300 million five-year notes; pricing Wednesday

By Aleesia Forni

Virginia Beach, Nov. 20 - Tyco Electronics Group SA (Baa2/BBB/BBB+) is set to sell a $300 million issue of senior notes due 2018 on Wednesday, according to a market source and a filing with the Securities and Exchange Commission.

Citigroup Global Markets Inc., BofA Merrill Lynch and Deutsche Bank Securities Inc. are the joint bookrunners.

Proceeds will be used for general corporate purposes, which may include the repayment of outstanding debt.

The notes will be fully and unconditionally guaranteed by TE Connectivity Ltd.

Tyco is a Luxembourg maker of electronic components.

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