Texas Instruments prices $1.2 billion of investment grade notes
Texas Instruments (TXN) has announced the pricing of two series of senior unsecured notes totaling $1.2 billion. The offering consists of:
- $550 million of 4.500% senior notes due May 23, 2030
- $650 million of 5.100% senior notes due May 23, 2035
The company plans to use the proceeds for general corporate purposes. The offering is expected to close on May 23, 2025, with Barclays Capital, Morgan Stanley, and MUFG Securities Americas serving as joint book-running managers.
Texas Instruments (TXN) ha annunciato il prezzo di due serie di obbligazioni senior non garantite per un totale di 1,2 miliardi di dollari. L'offerta comprende:
- 550 milioni di dollari di obbligazioni senior al 4,500% con scadenza il 23 maggio 2030
- 650 milioni di dollari di obbligazioni senior al 5,100% con scadenza il 23 maggio 2035
L'azienda prevede di utilizzare i proventi per scopi aziendali generali. La chiusura dell'offerta è prevista per il 23 maggio 2025, con Barclays Capital, Morgan Stanley e MUFG Securities Americas come joint book-running managers.
Texas Instruments (TXN) ha anunciado el precio de dos series de bonos senior no garantizados por un total de 1.200 millones de dólares. La oferta consta de:
- 550 millones de dólares en bonos senior al 4,500% con vencimiento el 23 de mayo de 2030
- 650 millones de dólares en bonos senior al 5,100% con vencimiento el 23 de mayo de 2035
La compañía planea utilizar los ingresos para fines corporativos generales. Se espera que la oferta cierre el 23 de mayo de 2025, con Barclays Capital, Morgan Stanley y MUFG Securities Americas como gestores conjuntos del libro de órdenes.
Texas Instruments (TXN)는 총 12억 달러 규모의 두 종류의 선순위 무담보 채권 가격을 발표했습니다. 이번 발행은 다음과 같습니다:
- 2030년 5월 23일 만기 4.500% 선순위 채권 5억 5천만 달러
- 2035년 5월 23일 만기 5.100% 선순위 채권 6억 5천만 달러
회사는 수익금을 일반 기업 목적에 사용할 계획입니다. 이번 발행은 2025년 5월 23일에 마감될 예정이며, Barclays Capital, Morgan Stanley, MUFG Securities Americas가 공동 주관사로 참여합니다.
Texas Instruments (TXN) a annoncé la tarification de deux séries d'obligations senior non garanties totalisant 1,2 milliard de dollars. L'offre se compose de :
- 550 millions de dollars d'obligations senior à 4,500 % arrivant à échéance le 23 mai 2030
- 650 millions de dollars d'obligations senior à 5,100 % arrivant à échéance le 23 mai 2035
La société prévoit d'utiliser les fonds pour des besoins généraux d'entreprise. La clôture de l'offre est prévue pour le 23 mai 2025, avec Barclays Capital, Morgan Stanley et MUFG Securities Americas en tant que gestionnaires conjoints du livre d'ordres.
Texas Instruments (TXN) hat die Preisfestsetzung für zwei Serien unbesicherter vorrangiger Schuldverschreibungen mit einem Gesamtvolumen von 1,2 Milliarden US-Dollar bekannt gegeben. Das Angebot umfasst:
- 550 Millionen US-Dollar vorrangige Schuldverschreibungen mit 4,500% Zins und Fälligkeit am 23. Mai 2030
- 650 Millionen US-Dollar vorrangige Schuldverschreibungen mit 5,100% Zins und Fälligkeit am 23. Mai 2035
Das Unternehmen plant, die Erlöse für allgemeine Unternehmenszwecke zu verwenden. Der Abschluss des Angebots wird für den 23. Mai 2025 erwartet, mit Barclays Capital, Morgan Stanley und MUFG Securities Americas als gemeinsame Bookrunner.
- Successful debt offering of $1.2 billion demonstrates strong market confidence and access to capital markets
- Relatively long-term debt maturities (5 and 10 years) provide financial flexibility
- Competitive interest rates secured in the current market environment
- Additional debt increases the company's leverage and interest expense obligations
- Use of proceeds for 'general corporate purposes' lacks specific strategic direction
Insights
TI raised $1.2B through bonds at favorable rates, strengthening its financial flexibility without significantly impacting its strong balance sheet.
Texas Instruments has successfully priced
The pricing spread between the two tranches (
TI's decision to raise capital through investment-grade notes indicates confidence from the debt markets. With the proceeds earmarked for "general corporate purposes," the company maintains strategic flexibility - this could support R&D initiatives, capital expenditures, working capital needs, or potentially share repurchases.
This debt issuance is unlikely to materially impact TI's strong balance sheet. The semiconductor manufacturer has historically maintained disciplined capital allocation with robust cash generation. The decision to issue debt now may be strategically timed to lock in rates before any potential future increases.
The transaction demonstrates TI's continued access to diverse funding sources and prudent financial management. The successful pricing reflects institutional investor confidence in TI's long-term business fundamentals and creditworthiness in the competitive semiconductor landscape.
$550 million 4.500% senior unsecured notes due May 23, 2030; and$650 million 5.100% senior unsecured notes due May 23, 2035.
TI expects to use the net proceeds of this offering for general corporate purposes. The offering is expected to close on May 23, 2025.
Barclays Capital Inc.; Morgan Stanley & Co. LLC; and MUFG Securities Americas Inc. are serving as joint book-running managers for the offering.
The offering of the notes is made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov or, in the alternative, from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or any other securities, nor will there be any sale of the notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.
About Texas Instruments
Texas Instruments Incorporated (Nasdaq: TXN) is a global semiconductor company that designs, manufactures and sells analog and embedded processing chips for markets such as industrial, automotive, personal electronics, enterprise systems and communications equipment. At our core, we have a passion to create a better world by making electronics more affordable through semiconductors. This passion is alive today as each generation of innovation builds upon the last to make our technology more reliable, more affordable and lower power, making it possible for semiconductors to go into electronics everywhere.
TXN-G
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SOURCE Texas Instruments Incorporated
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