German semiconductor manufacturer Infineon Technologies said it has raised USD 1.3 billion though a private placement. The company will use the proceeds to repay existing loans signed with banks relating to the acquisition of Cypress Semiconductor.
The transaction consisted of four tranches with maturities of six, eight, ten and twelve years. Over 40 institutional investors took part in the transaction. The offering of the notes was oversubscribed, said chief financial officer Sven Schneider.
