Summary
Motorola Solutions, Inc. (MSI) filed a Form 8-K on February 28, 2013, to report the closing of a public offering of $600 million in aggregate principal amount of its 3.500% Senior Notes due 2023. The offering was underwritten by Citigroup Global Markets, HSBC Securities (USA), and Morgan Stanley & Co. These notes were issued under an existing indenture, further detailed by an Officer's Certificate filed with this report. This debt issuance provides investors with an update on the company's financing activities. The fixed interest rate of 3.500% on these senior notes offers a predictable cost of debt for MSI, while the 10-year maturity to 2023 provides a long-term capital structure. Investors should review the full underwriting agreement and related exhibits for detailed terms and conditions of this significant financing event.
Key Highlights
- 1Motorola Solutions closed a public offering of $600 million in 3.500% Senior Notes due 2023.
- 2The offering closed on February 28, 2013.
- 3The notes are senior unsecured obligations of the company.
- 4The offering was underwritten by a syndicate led by Citigroup Global Markets, HSBC Securities (USA), and Morgan Stanley & Co.
- 5The issuance was made under an existing indenture dated May 1, 1995, and supplemented by an Officer's Certificate.
- 6The notes were registered under a Form S-3 registration statement.
- 7Key documents including the Underwriting Agreement and Officer's Certificate are filed as exhibits.