KLA starts capped tender offer for 4.65% senior notes due 2024

Chicago, June 21 – KLA Corp. started a capped tender offer for up to $500 million principal amount of its $1.25 billion outstanding 4.65% senior notes due 2024 (Cusip: 482480AE0), according to a press release on Tuesday.

Pricing will use the 2.5% U.S. Treasury due May 31, 2024 plus 60 basis points. The par call date will be used unless the calculation determines a price less than par, in which case the maturity date would be used.

Noteholders who tender by the early deadline will receive the full consideration, which will include a $30 early tender payment.

The early tender deadline is 5 p.m. ET on July 5, also the withdrawal deadline.

Pricing will take place at 9 a.m. ET on July 6.

Early settlement will be July 7.

The expiration date is midnight ET on July 19.

Final settlement is July 21.

Interest will also be paid to the applicable settlement date.

Funding for the tender offer will come from a concurrent offering of senior notes. The offer is subject to the financing condition.

BofA Securities (980 387-3907, 888 292-0070, debt_advisory@bofa.com) and Citigroup (212 723-6106, 800 558-3745, ny.liabilitymanagement@citi.com) are the dealer managers for the tender offer.

D.F. King & Co., Inc. is the information and tender agent for the offer (800 290-6424, 212 269-5550, kla@dfking.com).

KLA develops and manufactures process-control and process-enabling solutions for electronic devices. The company is based in Milpitas, Calif.

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