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© Texas Instruments Components | May 17, 2011

TI prices USD 3.5<em>bn</em> of investment grade notes

Texas Instruments announced the pricing of four series of senior unsecured notes for an aggregate principal amount of USD 3.5 billion.

The notes consist of the following: - USD 500 million of 0.875% notes due May 15, 2013 - USD 1.0 billion of floating rate notes due May 15, 2013 - USD 1.0 billion of 1.375% notes due May 15, 2014 - USD 1.0 billion of 2.375% notes due May 16, 2016 TI intends to use the net proceeds from the sale of the notes primarily to fund the merger with National Semiconductor Corporation and to use the excess, if any, for general corporate purposes. The offering is expected to close May 23, 2011.
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