Summary
Texas Instruments Incorporated (TXN) announced the successful issuance and sale of $750 million in 2.250% Notes due 2029. This debt offering, which occurred on September 4, 2019, was conducted under an existing underwriting agreement and pursuant to the company's previously filed Form S-3 registration statement. The new notes are governed by an indenture dated May 23, 2011, with U.S. Bank National Association acting as trustee. This issuance represents a capital-raising activity by Texas Instruments, likely intended to fund general corporate purposes, potential acquisitions, or to refinance existing debt. Investors in these notes are lending to Texas Instruments at a fixed interest rate of 2.250% for a period of ten years, with repayment due in 2029. The filing provides details on the agreements and legal documentation surrounding this debt issuance, but does not disclose the specific use of proceeds.
Key Highlights
- 1Texas Instruments successfully issued $750 million in aggregate principal amount of new debt.
- 2The new debt consists of 2.250% Notes due in 2029, indicating a 10-year maturity.
- 3The offering was made under an underwriting agreement with prominent financial institutions including Barclays Capital Inc., BofA Securities, Inc., and J.P. Morgan Securities LLC.
- 4The notes were issued pursuant to the company's effective Form S-3 registration statement, indicating prior regulatory review.
- 5The debt issuance is governed by an existing Indenture dated May 23, 2011, with U.S. Bank National Association as trustee.
- 6The filing includes exhibits such as the underwriting agreement, an officers' certificate detailing the notes, and legal opinions.
- 7The specific use of proceeds from this debt issuance is not detailed in this particular filing.