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Freescale Announces Launch of New Financing under Senior Secured Credit Facilities
2013-09-03 07:00:00| Freescale Press Releases
AUSTIN, Texas--(BUSINESS WIRE)--Sep. 3, 2013-- Freescale Semiconductor, Ltd., (NYSE: FSL) (the Company) announced today that Freescale Semiconductor, Inc. (Freescale), its wholly owned indirect subsidiary, is seeking commitments for a new senior secured term loan facility under its existing senior secured credit facilities in an aggregate principal amount of up to $300,000,000. The proceeds from the new term loan are intended to be used to redeem, repurchase or otherwise acquire all of Freescales outstanding 10% senior secured notes due 2018 and a portion of its 9% senior secured notes due 2018, and to pay related redemption premiums and fees. Freescale will pay for a portion of its expenses with cash on hand. The foregoing does not constitute a notice of redemption for any outstanding notes. The purposes of the transaction and the application of the proceeds are to extend a portion of Freescales debt maturities and reduce interest expense. The new term loan facility would be For more information click on title.
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Category:Electronics and Electrical