KLA to price new senior notes, tap issue of 4.95% notes due 2052

By Marisa Wong

Los Angeles, Jan. 30 – KLA Corp. plans to price an offering of fixed-rate senior notes and an add-on to its 4.95% senior notes due 2052, according to a 424B5 filing with the Securities and Exchange Commission.

The 2052 notes will constitute a further issuance of and form a single series with KLA’s $1.2 billion of 4.95% notes due 2052 issued on June 23, 2022.

Both notes will feature a make-whole call option, followed by a par call option.

The notes will also be putable at 101 if a change-of-control triggering event occurs.

Citigroup Global Markets Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are the joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Latham & Watkins LLP will act as counsel for the issuer. Cravath, Swaine & Moore LLP will represent the underwriters.

The company intends to use proceeds from the offering for general corporate purposes, including the repayment of outstanding debt at or prior to maturity and to repurchase shares of common stock under previously announced share repurchase programs.

KLA develops equipment and provides services for the electronics industry. The company is based in Milpitas, Calif.

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