Texas Instruments prices $3.0 billion of investment grade notes

BY PR Newswire | CORPORATE | 02/05/24 07:54 PM EST

DALLAS, Feb. 5, 2024 /PRNewswire/ -- Texas Instruments Incorporated (TXN) today announced the pricing of five series of senior unsecured notes for an aggregate principal amount of?$3.0 billion. The notes consist of the following:

  • $650 million of 4.600% senior unsecured notes due February 8, 2027;
  • $650 million of 4.600% senior unsecured notes due February 8, 2029;
  • $600 million of 4.850% senior unsecured notes due February 8, 2034;
  • $750?million of 5.150% senior unsecured notes due February 8, 2054; and
  • $350?million of 5.050% senior unsecured notes due May 18, 2063.

The 5.050% notes due 2063 will be a further issuance of, and form a single series with, the $1.2 billion aggregate principal amount of the existing 5.050% notes due 2063 issued by TI on May 18, 2023. Each of the 4.600% notes due 2027, the 4.600% notes due 2029, the 4.850% notes due 2034 and the 5.150% notes due 2054 will be a new issuance.

TI expects to use the net proceeds of this offering for general corporate purposes. The offering is expected to close on?February 8, 2024.

BofA Securities, Inc.; Citigroup Global Markets Inc.; and Mizuho Securities USA 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 BofA Securities, Inc., Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255, by phone: (800) 294-1322; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone: (800) 831-9146; or Mizuho Securities USA LLC, Attention: Debt Capital Markets, 1271 Avenue of the Americas, New York, New York 10020, by phone: (866) 271-7403.

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 (TXN)

Texas Instruments Incorporated?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.


Texas Instruments Logo. (PRNewsFoto/Texas Instruments Incorporated) (PRNewsfoto/Texas Instruments Incorporated)

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SOURCE Texas Instruments Incorporated (TXN)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.