By Paul A. Harris
Portland, Ore., March 9 – Synaptics Inc. priced a $400 million issue of senior notes due June 15, 2029 (Ba3/BB-/BB) at par to yield 4% on Tuesday, according to market sources.
The yield printed in the middle of yield talk in the 4% area. Early guidance was in the mid-to-high 4% area.
Wells Fargo Securities LLC was the left bookrunner.
The San Jose, Calif.-based developer of human interface hardware and software plans to use the proceeds to repay debt under its revolver and for general corporate purposes.
| Issuer: | Synaptics Inc.
|
| Amount: | $400 million
|
| Maturity: | June 15, 2029
|
| Securities: | Senior notes
|
| Left bookrunner: | Wells Fargo Securities LLC
|
| Joint bookrunner: | BMO Capital Markets Corp., MUFG, Barclays, HSBC Securities (USA) Inc.
|
| Coupon: | 4%
|
| Price: | Par
|
| Yield: | 4%
|
| Spread: | 263 bps
|
| Call protection: | Three years
|
| Trade date: | March 9
|
| Settlement date: | March 11
|
| Ratings: | Moody's: Ba3
|
| S&P: BB-
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 4% area
|
| Marketing: | Roadshow
|
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