TE Connectivity announces par call redemption of $500 million of 3.500% senior notes outstanding
TE Connectivity Ltd. (NYSE: TEL) announced a par call redemption for all outstanding 3.500% Senior Notes due Feb. 3, 2022, through its subsidiary Tyco Electronics Group S.A.
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Rhea-AI Summary
TE Connectivity Ltd. (NYSE: TEL) announced a par call redemption for all outstanding 3.500% Senior Notes due Feb. 3, 2022, through its subsidiary Tyco Electronics Group S.A. The redemption date is set for Nov. 3, 2021, with the price equal to 100% of the principal amount. As of Sept. 27, 2021, $500 million of these Notes remain outstanding. A notice was sent to all holders, although this announcement does not serve as a formal notice of redemption. TE Connectivity is a global leader in industrial technology, employing around 80,000 individuals across 140 countries.
Positive
- Successful management of debt with the par call redemption of $500 million in Senior Notes.
- Maintaining a strong financial position by redeeming notes before maturity.
Negative
- None.
Details
News Market Reaction – TEL
The recorded move for TEL in the trading session of this news was -2.74%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SCHAFFHAUSEN, Switzerland, Sept. 27, 2021 /PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL) today announced that its wholly-owned subsidiary, Tyco Electronics Group S.A. ("TEGSA"), has called for par call redemption all of its outstanding
The redemption date will be Nov. 3, 2021. The redemption price for the Notes will be equal to
A notice of redemption was sent to the holders of the Notes today. Holders owning Notes through a broker, bank or other nominee should contact that party for information.
This news release is for informational purposes and does not constitute a notice of redemption under the optional redemption provisions of the Notes or the indenture governing the Notes, nor does it constitute the solicitation of an offer to buy any securities of TE Connectivity Ltd. or TEGSA, or a solicitation of an offer to buy securities in any state or jurisdiction where prohibited by law. Additional information concerning the terms and conditions of the redemption is contained in the notice of redemption distributed to holders of the Notes.
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 approximately 80,000 employees, including more than 7,500 engineers, working alongside customers in approximately 140 countries, TE ensures that EVERY CONNECTION COUNTS.
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SOURCE TE Connectivity Ltd.
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