Texas Instruments Incorporated announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $1.2 billion. The notes consist of the following: $550 million of 4.500% senior unsecured notes due May 23, 2030; and $650 million of 5.100% senior unsecured notes due May 23, 2035. The company 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.
Texas Instruments Incorporated specializes in the design, manufacturing and marketing of semiconductors. Net sales break down by family of products as follows:
- analog circuits (79.2%): operational amplifiers, audio amplifiers, interface circuits, data converters, power management circuits, logic integrated circuits, etc.;
- processors (15.2%): microprocessors, digital signal processors, microcontrollers, etc. for telecom applications (telephones and cellular infrastructures), and automobiles;
- other (5.6%): primarily graphic calculators et wireless connectivity products.
Net sales are distributed geographically as follows: the United States (38.2%), China (21.4%), Japan (6.6%), Asia (10.7%), Europe/Middle East/Africa (21.2%) and other (1.9%).
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