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Freescale Semiconductor Announces Increase of New Term Loan Facility from $300 million to $800 million
2013-09-09 07:00:00| Freescale Press Releases
AUSTIN, Texas--(BUSINESS WIRE)--Sep. 9, 2013-- Freescale Semiconductor, Inc. (Freescale), a wholly owned subsidiary of Freescale Semiconductor, Ltd. (NYSE:FSL), announced today that Freescale has been advised by the arrangers under its proposed new senior secured term loan facility that they have received sufficient orders to upsize the proposed new term loan facility to $800 million from the original $300 million proposed at the outset of the offering. The proceeds from the proposed new term loan facility 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 For more information click on title.
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Category:Electronics and Electrical