Press release
KLA Corporation Announces Cash Tender Offer for 4.650% Senior Notes due 2024
MILPITAS, Calif., June 21, 2022 /PRNewswire/ -- KLA Corporation ("KLA") (NASDAQ: KLAC) today announced that it has commenced a tender offer (the "Tender
About this update from Kla Corporation
[{"type":"text","content":"MILPITAS, Calif., June 21, 2022 /PRNewswire/ -- KLA Corporation (\"KLA\") (NASDAQ: KLAC) today announced that it has commenced a tender offer (the \"Tender Offer\") to purchase for cash up to $500,000,000 aggregate principal amount, as may be increased or decreased by KLA (the \"Maximum Amount\"), of its 4.650% Senior Notes due 2024 (\"Tender Notes\"). KLA intends to fund the purchase of Tender Notes accepted for payment in the Tender Offer with a portion of the proceeds from a concurrent offering of senior notes.\nKLA Corporation Announces Cash Tender Offer for 4.650% Senior Notes due 2024The Maximum Amount represents the aggregate principal amount of Tender Notes subject to the Tender Offer and excludes any Accrued Interest or Early Tender Payment (each as defined below). KLA expressly reserves the right, in its sole discretion, subject to applicable law, to change, increase or decrease the Maximum Amount, without extending withdrawal rights and/or terminate the Tender Offer at any time prior to the Expiration Date (as defined below). If Holders (as defined below) tender more Tender Notes in the Tender Offer than they expect to be accepted for purchase by KLA based on the Maximum Amount and KLA subsequently accepts more Tender Notes in the Tender Offer than such Holders expected as a result of an increase of the Maximum Amount, such Holders will not be able to withdraw any of their previously tendered Tender Notes. Accordingly, Holders should not tender any Tender Notes that they do not wish to be accepted for purchase in the Tender Offer.\nThe Tender Offer is summarized in the table below:\nTitle of Notes\nCUSIPNumber\nPrincipalAmountOutstanding\nMaximumAmount(1)\nUSTReferenceSecurity\nBloombergReferencePage(2)\nFixedSpread(bps)\nEarlyTenderPayment(3)\n4.650% Senior Notesdue 2024 \n482480AE0\n$1,250,000,000\n$500,000,000\n2.50%UST dueMay 31,2024\nFIT1\n+60\n$30.00\n(1)\nThe Maximum Amount of $500,000,000 represents the aggregate principal amount of Tender Notes that will be purchased in the Tender Offer. We may increase or decrease the Maximum Amount as described herein.\n(2)\nThe page on Bloomberg from which the Dealer Managers (as defined below) will quote the bid-side price of the U.S. Treasury Security. In the above table, \"UST\" denotes a U.S. Treasury Security.\n(3)\nPer $1,000 principal amount of Tender Notes validly ...