SCHAFFHAUSEN, Switzerland, Jan. 30,
2023 /PRNewswire/ -- TE Connectivity Ltd. (NYSE:
TEL) ("TE Connectivity") today announced that its wholly-owned
subsidiary, Tyco Electronics Group S.A. ("TEGSA"), has priced an
offering of $500 million aggregate
principal amount of its 4.500% senior notes due 2026.
The offer is being made pursuant to an effective registration
statement filed by TE Connectivity and TEGSA on June 21, 2021, which includes a prospectus, and a
prospectus supplement dated January 30,
2023.
The $500 million senior notes due 2026 will be issued at a
price of 99.811% and will have a stated interest rate of 4.500% per
year, payable semi-annually.
TE Connectivity intends to use the net proceeds of this offering
for general corporate purposes, which may include the repayment of
outstanding debt.
BofA Securities, Inc., Citigroup Global Markets Inc., and J.P.
Morgan Securities LLC are joint book-running managers for this
offering, which is expected to close on February 13, 2023.
A copy of the base prospectus in the registration statement or
the prospectus supplement for the offering can be obtained from the
Securities and Exchange Commission's website at www.sec.gov, or
from BofA Securities, Inc. by calling toll free 1-800-294-1322, or
from Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling toll free
1-800-831-9146, or by emailing prospectus@citi.com, or from J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling
1-866-803-9204.
This announcement does not constitute an offer to sell or the
solicitation of offers to buy any security and shall not constitute
an offer, solicitation, or sale of any security in any jurisdiction
in which such offer, solicitation, or sale would be unlawful.
About TE Connectivity
TE Connectivity Ltd. (NYSE: TEL) is a global industrial
technology leader creating a safer, sustainable, productive, and
connected future. Our broad range of connectivity and sensor
solutions, proven in the harshest environments, enable advancements
in transportation, industrial applications, medical technology,
energy, data communications, and the home. With more than 85,000
employees, including over 8,000 engineers, working alongside
customers in approximately 140 countries, TE ensures that EVERY
CONNECTION COUNTS.
Forward-Looking Statements
This release contains certain "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. These statements are based on management's current
expectations and are subject to risks, uncertainty and changes in
circumstances, which may cause actual results, performance,
financial condition or achievements to differ materially from
anticipated results, performance, financial condition or
achievements. All statements contained herein that are not clearly
historical in nature are forward-looking and the words
"anticipate," "believe," "expect," "estimate," "plan," and similar
expressions are generally intended to identify forward-looking
statements. We have no intention and are under no obligation to
update or alter (and expressly disclaim any such intention or
obligation to do so) our forward-looking statements whether as a
result of new information, future events or otherwise, except to
the extent required by law. The forward-looking statements in this
release include statements addressing our future financial
condition and operating results, and the impact on our operations
resulting from the coronavirus disease 2019 ("COVID-19"). Examples
of factors that could cause actual results to differ materially
from those described in the forward-looking statements include,
among others, the extent, severity and duration of COVID-19
negatively affecting our business operations; business, economic,
competitive and regulatory risks, such as conditions affecting
demand for products in the automotive and other industries we
serve; competition and pricing pressure; fluctuations in foreign
currency exchange rates and commodity prices; natural disasters and
political, economic and military instability in countries in which
we operate, including continuing military conflict between
Russia and Ukraine resulting from Russia's invasion of Ukraine or escalating tensions in surrounding
countries; developments in the credit markets; future goodwill
impairment; compliance with current and future environmental and
other laws and regulations; and the possible effects on us of
changes in tax laws, tax treaties and other legislation, including
the effects of Swiss tax reform. In addition, the extent to which
COVID-19 will impact our business and our financial results will
depend on future developments, which are highly uncertain and
cannot be predicted. Such developments may include the geographic
spread of the virus, the severity of the virus, the duration of the
outbreak, the impact on our suppliers' and customers' supply
chains, the actions that may be taken by various governmental
authorities in response to the outbreak in jurisdictions in which
we operate, and the possible impact on the global economy and local
economies in which we operate. More detailed information about
these and other factors is set forth in TE Connectivity Ltd.'s
Annual Report on Form 10-K for the fiscal year ended Sept. 30, 2022 as well as in our Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K and other reports
filed by us with the U.S. Securities and Exchange Commission.
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SOURCE TE Connectivity Ltd.