Texas Instruments prices $800 million of investment grade notes

Rhea-AI Summary

Texas Instruments (TXN) announced the pricing of two series of senior unsecured notes totaling $800 million. The offering comprises $300 million of 4.700% notes maturing on November 18, 2024 and $500 million of 4.600% notes due on February 15, 2028. Proceeds will be used for general corporate purposes. The offering closes on November 18, 2022. J.P. Morgan, Mizuho, and Morgan Stanley are the joint book-running managers.

DALLAS, Nov. 15, 2022 /PRNewswire/ -- Texas Instruments Incorporated (TI) (Nasdaq: TXN) today announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $800 million. The notes consist of the following:

• $300 million of 4.700% senior unsecured notes due November 18, 2024; and
• $500 million of 4.600% senior unsecured notes due February 15, 2028.

TI expects to use the net proceeds of this offering for general corporate purposes. The offering is expected to close on November 18, 2022.

J.P. Morgan Securities LLC; Mizuho Securities USA LLC; and Morgan Stanley & Co. LLC 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 J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk, by phone: (212) 834-4533 (collect); Mizuho Securities USA LLC, Attention: Debt Capital Markets, 1271 Avenue of the Americas, 3rd Floor, New York, New York 10020, by toll-free phone: (866) 271-7403; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by phone: (866) 718-1649.

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, tests and sells analog and embedded processing chips for markets such as industrial, automotive, personal electronics, communications equipment and enterprise systems. Our passion to create a better world by making electronics more affordable through semiconductors is alive today, as each generation of innovation builds upon the last to make our technology smaller, more efficient, more reliable and more affordable – making it possible for semiconductors to go into electronics everywhere. We think of this as Engineering Progress. It's what we do and have been doing for decades.

TXN-G

 

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SOURCE Texas Instruments Incorporated

FAQ

What is Texas Instruments' recent announcement regarding TXN?

Texas Instruments announced the pricing of $800 million in senior unsecured notes.

What are the terms of the notes Texas Instruments is offering?

The offering includes $300 million of 4.700% notes due November 18, 2024 and $500 million of 4.600% notes due February 15, 2028.

When will the Texas Instruments note offering close?

The offering is expected to close on November 18, 2022.

What will Texas Instruments do with the proceeds from the note offering?

The proceeds will be used for general corporate purposes.