NXP Announces Pricing of Senior Unsecured Notes Offering

About this update from Nxp Semiconductors N.v.

[{"type":"text","content":"EINDHOVEN, The Netherlands, Nov. 15, 2021 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ:NXPI) (together with its subsidiaries, “NXP”) announced today the pricing of the previously announced offering by its subsidiaries NXP B.V., NXP Funding LLC and NXP USA, Inc. (together, the “Issuers”) of $1,000 million aggregate principal amount of senior unsecured notes due 2032 (the “2032 Notes”), $500 million aggregate principal amount of senior unsecured notes due 2042 (the “2042 Notes”) and $500 million aggregate principal amount of senior unsecured notes due 2051 (the “2051 Notes” and, together with the 2032 Notes and the 2042 Notes, the “Notes”) pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The 2032 Notes will bear interest at 2.650% per annum and will mature on February 15, 2032. Interest on the 2032 Notes will be payable semi-annually on February 15 and August 15 of each year, beginning on February 15, 2022. The 2042 Notes will bear interest at 3.125% per annum and will mature on February 15, 2042. Interest on the 2042 Notes will be payable semi-annually on February 15 and August 15 of each year, beginning on February 15, 2022. The 2051 Notes will bear interest at 3.250% per annum and will mature on November 30, 2051. Interest on the 2051 Notes will be payable semi-annually on May 30 and November 30 of each year, beginning on May 30, 2022. The Notes will be fully and unconditionally guaranteed on a senior basis by NXP Semiconductors N.V. and will be structurally subordinated to the liabilities, including trade payables, of NXP’s other subsidiaries. In addition, the Notes will be effectively junior to all future secured debt of the Issuers and NXP Semiconductors N.V., to the extent of the value of the assets securing such debt. The issuance of the Notes is expected to close on or around November 30, 2021, subject to customary closing conditions. NXP intends to use a portion of the net proceeds from the offering of the Notes to redeem the $1,000 million aggregate principal amount of outstanding dollar-denominated 3.875% senior unsecured notes due 2022 (the “3.875% 2022 Notes”) in accordance with the terms of the indenture governing the 3.875% 2022 Notes (the “3.875% 2022 Notes Redemption”), including all premiums, accrued interest and costs and expenses related to...

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