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Wireless

NXP to reduce gross debt by USD 2.7-6.5 bln

Monday 13 February 2017 | 13:46 CET | News
NXP Semiconductors said it will be reducing its gross debt by USD 2.7-6.5 billion, from the USD 9.2 billion recorded at the end of the fourth quarter. To achieve its goal, the company will pre-pay all loans due March 2017 (USD 388 million), all loans due January 2020 (USD 387 million) and all loans due December 2020 (USD 1.436 billion). It will also redeem its 5.75 percent senior notes due 2021 (USD 500 million). To fund the debt reduction, NXP said it will use the net proceeds from its completed divestment of Standard Products business, plus cash on hand.

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Categories: Mobile & Wireless
Companies: NXP Semiconductors
Countries: World
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