AUSTIN, Texas--(BUSINESS WIRE)--Feb. 21, 2014-- Freescale Semiconductor, Ltd., (NYSE: FSL) (the Company) announced today that Freescale Semiconductor, Inc. (Freescale), its wholly owned indirect subsidiary, is seeking to (i) lower the interest rate of its existing senior secured term loan facility maturing in 2016 with an aggregate outstanding principal amount of $347 million (the 2016 Term Loan) and extend the maturity to 2020; (ii) lower the interest rate applicable to its existing senior secured term loan facility maturing in 2020 with an aggregate outstanding principal amount of $2.37 billion (the 2020 Term Loan); and (iii) receive commitments for a new senior secured term loan facility under its existing senior secured credit facilities. The proceeds from the new term loan are intended to be used to refinance any portion of the 2016 Term Loan and 2020 Term Loan not so amended. The Company intends to pay fees and expenses with cash on hand. The purposes of these transactioFor more information click on title.