TE Connectivity Secures Funding Through €500 Million Note Offering
TE Connectivity Announces Pricing for Senior Notes Offering
TE Connectivity plc (NYSE: TEL) is taking significant steps to solidify its financial position by announcing the pricing of €500 million in senior notes. This offering reveals the company's commitment to ensuring financial strength and providing resources for future growth.
Details of the Offering
The offering consists of 2.500% senior notes due in 2028. These notes are priced at 99.610%, yielding a beneficial interest rate that underscores TE Connectivity's position in the market. The annual interest rate is expected to be attractive, benefiting both the company and investors alike.
Issuance and Intended Use of Proceeds
TE Connectivity plans to utilize the net proceeds from this offering for various corporate purposes, which may include repaying debts incurred during the acquisition of Richards Manufacturing. This move is designed to streamline its financial operations and allocate resources efficiently toward enhancing its core business functions.
Roles of Financial Institutions
A range of leading financial institutions serve as joint book-running managers for this offering. Barclays Bank PLC, BNP PARIBAS, BofA Securities Europe SA, and several others are facilitating this process, with an expected closure by May 6, 2025. Their involvement not only reinforces TE Connectivity's credibility but also affirms the expected demand for these notes, advancing the company's strategic goals.
Additional Information for Investors
Investors interested in the offering have access to the base prospectus and additional documentation through official channels. These resources provide clarity on the investment opportunity and the broader context within which TE Connectivity operates.
About TE Connectivity
TE Connectivity plc (NYSE: TEL) stands as a global leader in industrial technology, dedicated to designing a future that is safe, sustainable, and connected. With a workforce exceeding 85,000 employees, including around 9,000 engineers, TE Connectivity supports a diverse array of sectors including transportation, energy, and medical technology. The company is committed to ensuring that every connection counts in advancing modern solutions.
Frequently Asked Questions
What is the total amount of senior notes TE Connectivity is offering?
TE Connectivity is offering €500 million in senior notes due 2028.
What is the stated interest rate for these senior notes?
The senior notes carry a stated interest rate of 2.500% per year, payable annually.
How will TE Connectivity use the net proceeds from this offering?
The proceeds will be utilized for general corporate purposes, including the repayment of debts from the acquisition of Richards Manufacturing.
Who are the joint book-running managers for this offering?
The managers include Barclays Bank PLC, BNP PARIBAS, BofA Securities Europe SA, Citigroup Global Markets Limited, Deutsche Bank, and Goldman Sachs, among others.
What is TE Connectivity's commitment to investors?
TE Connectivity aims to provide a reliable return on investment through solid financial management and strategic growth initiatives, ensuring substantial benefits for stakeholders.
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