NXP to offer two series of dollar-denominated notes

By Mary-Katherine Stinson

Lexington, Ky., May 12 – NXP Semiconductors NV, through its subsidiaries NXP BV, NXP Funding LLC and NXP USA, Inc., plans to offer two series of dollar-denominated notes, according to a 424B2 filing with the Securities and Exchange Commission on Thursday.

The notes will be callable with a make-whole premium until the par call date, after which they will be redeemable at par.

Deutsche Bank Trust Co. Americas is the trustee.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are the joint bookrunners.

Skadden, Arps, Slate, Meagher & Flom LLP and DeBrauw Blackstone Westbroek NV will act as the company’s counsel. Davis Polk & Wardwell LLP will serve as counsel for the underwriters.

Proceeds will be used to redeem $900 million of the company’s 4.625% notes due 2023. Any remaining proceeds will be used for general corporate purposes, including capital expenditures or short-term debt repayment.

The company plans to allocate an amount equal to the proceeds for investment in eligible green projects within five years of the date of issuance of the notes.

NXP is an Eindhoven, Netherlands, maker of chips for secure connectivity.

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