Infineon Takes a Step to Refinance the Cypress Acquisition, Places ?2.9 Billion in Bonds with Maturities up to Twelve Years
June 18, 2020
News
Infineon placed corporate bonds with a volume of €2.9 billion under its recently established EMTN (European Medium Term Notes) program.
Infineon placed corporate bonds with a volume of €2.9 billion under its recently established EMTN (European Medium Term Notes) program. The placement was more than 5-times oversubscribed and consists of four tranches with different maturities. The proceeds will be used to repay a part of the bank loans incurred for the acquisition of Cypress Semiconductor Corporation.
The bond issuance consists of four fixed-rate tranches with different maturities: a 3-year tranche of €750 million with a coupon of 0.75 percent p.a., a 6-year tranche of €750 million with a coupon of 1.125 percent p.a., a 9-year tranche of €750 million with a coupon of 1.625 percent p.a. and a 12-year tranche of €650 million with a coupon of 2.00 percent p.a. The notes are rated BBB- by S&P Global Ratings.
For more information, visit: www.infineon.com
Tiera Oliver is the assistant managing editor at Embedded Computing Design. She is responsible for web content editing, product news, and story development. She also manages, edits, and develops content for ECD podcasts, including Embedded Insiders.
She utilizes her expertise in journalism and content management to oversee editorial content, coordinate with editors, and ensure high-quality output across web, print, and multimedia platforms. She manages diverse projects, assists in the production of digital magazines, and hosts company podcasts by conducting in-depth interviews with industry leaders to deliver engaging and insightful discussions.
Tiera attended Northern Arizona University, where she received her bachelor's in journalism and political science. She was also a news reporter for the student-led newspaper, The Lumberjack.
