News Article
NXP Increases Private Offering to US $1 Billion
The firm has increased its offering from $600 million to $1 billion.
NXP B.V. announced that it, together with NXP Funding LLC, successfully upsized its previously announced offering for US $600 million aggregate principal amount of senior secured notes due 2018 to US $1 billion aggregate principal amount in a private offering pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act").
NXP intends to use the proceeds from the offering to repay certain of its existing secured notes through redemption calls, open market purchases, privately negotiated transactions, tender offers or some combination thereof, depending upon, among other things, market conditions, and to pay fees and expenses related to the offering.
As of today, NXP has commitments to purchase from holders approximately US $734 million of existing secured notes (consisting of approximately US $359 million aggregate principal amount of U.S. dollar-denominated 7⅞% senior secured notes due 2014, approximately US $317 million aggregate principal amount of U.S. dollar-denominated floating rate senior secured notes due 2013 and approximately US $58 million aggregate principal amount of euro-denominated floating rate senior secured notes due 2013).
