Texas Instruments prices $1.2 billion of investment grade notes
Rhea-AI Summary
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.
Positive
- 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
Negative
- Additional debt increases the company's leverage and interest expense obligations
- Use of proceeds for 'general corporate purposes' lacks specific strategic direction
News Market Reaction – TXN
On the day this news was published, TXN declined 1.74%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
$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
FAQ
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