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General

Micron prices 1.7 bln offering

Thursday 11 July 2019 | 13:22 CET | News
Micron Technology is planning an offering of USD 900 million worth of 4.185 percent senior notes due 2027 and of USD 850 million worth of 4.663 percent senior notes due 2030. The company is expecting net proceeds of around USD 1.739 billion, much of which it will use to buy Intel’s stake in IM Flash Technologies and to pay IM Flash debt owed to Intel. Money remaining will go towards general corporate purposes, which may include capex, working capital and paying back debt. 

Goldman Sachs, JP Morgan Securities and Wells Fargo Securities will be joint book-running managers for the offering.

The offering is expected to settle on 12 July, subject to the usual closing conditions.



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Categories: General
Companies: Intel / Micron Technology
Countries: World
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