NXP Semiconductors Announces US$1 Billion Bridge Financing
September 20 2018 - 8:24AM
NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that on
September 19, 2018 (the “Closing Date”) its subsidiaries NXP B.V
and NXP Funding LLC (the “Borrowers”), the lenders party thereto
and Barclays Bank Plc, as administrative agent, entered into a
US$1,000,000,000 senior unsecured bridge term credit facility
agreement (the “Bridge Term Credit Agreement”). On the
Closing Date, an aggregate principal amount of US$1,000,000,000 of
term loans (the “Term Loans”) were borrowed under the Bridge Term
Credit Agreement. The Term Loans mature 364 days following
the Closing Date and bear interest, at the option of the Borrowers,
at either (a) a LIBOR rate plus an applicable margin of 1.5 percent
or (b) a base rate plus an applicable margin of 0.5 percent.
The proceeds of the Loans hereunder shall be used for general
corporate purposes of the Borrower as well as to finance parts of
the announced equity buy-back program.
All present and future obligations of the Borrowers arising
under and pursuant to the terms of the Bridge Term Credit Agreement
are guaranteed pursuant to a guaranty agreement dated as of the
Closing Date (the “Guaranty Agreement”) and made by NXP
Semiconductors Netherlands B.V., Freescale Semiconductor Holdings
V, Inc., and NXP USA, Inc., in favor of Barclays Bank Plc, as
administrative agent.
This announcement is for informational purposes only.
About NXP SemiconductorsNXP Semiconductors N.V.
(NASDAQ: NXPI) enables secure connections and infrastructure for a
smarter world, advancing solutions that make lives easier, better,
and safer. As the world leader in secure connectivity solutions for
embedded applications, NXP is driving innovation in the secure
connected vehicle, end-to-end security & privacy, and smart
connected solutions markets. Built on more than 60 years of
combined experience and expertise, the company has over 30,000
employees in more than 30 countries and posted revenue of $9.26
billion in 2017. Find out more at www.nxp.com
Forward-looking StatementsThis document
includes forward-looking statements which include statements
regarding NXP’s business strategy, financial condition, results of
operations, and market data, as well as any other statements which
are not historical facts. By their nature, forward-looking
statements are subject to numerous factors, risks and uncertainties
that could cause actual outcomes and results to be materially
different from those projected. Readers are cautioned not to place
undue reliance on these forward-looking statements. Except for any
ongoing obligation to disclose material information as required by
the United States federal securities laws, NXP does not have any
intention or obligation to publicly update or revise any
forward-looking statements after NXP distributes this document,
whether to reflect any future events or circumstances or otherwise.
For a discussion of potential risks and uncertainties, please refer
to the risk factors listed in NXP’s SEC filings. Copies of NXP’s
SEC filings are available on NXP’s Investor Relations website,
www.nxp.com/investor or from the SEC website, www.sec.gov.
For further information, please contact:
Investors:Jeff Palmerjeff.palmer@nxp.com+1 408 518 5411
Media:Jacey Zuniga jacey.zuniga@nxp.com +1 512 895
7398
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