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 Takes a Step to Refinance the Cypress Acquisition, Places ?2.9 Billion in Bonds with Maturities up to Twelve Years](https://data.embeddedcomputing.com/uploads/resize/320/200/external/data.embeddedcomputing.com/uploads/articles/wp/618338072/5eeb9e96cf112-Dr_Sven_Schneider_01.jpg_1458780945.jpg)
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