Texas Instruments Completes $2 Billion Notes Offering
Simpson Thacher represented the underwriters in connection with the recent public offering by Texas Instruments Incorporated of an aggregate of $2 billion in investment grade notes, consisting of $500 million aggregate principal amount of 5.000% Senior Notes due 2028, $500 million aggregate principal amount of 5.350% Senior Notes due 2031, $500 million aggregate principal amount of 5.500% Senior Notes due 2033 and $500 million aggregate principal amount of 5.750% Senior Notes due 2036.
Texas Instruments designs and makes semiconductors for sale to electronics designers and manufacturers all over the world. The company intends to use the net proceeds from the sale of the notes to finance a portion of the purchase price for the acquisition of Silicon Laboratories Inc. and to pay related fees and expenses.
The Simpson Thacher team for the transaction included John O’Connell, Heidi Ahmed and Delia Li (Capital Markets); Jonathan Cantor and Michael Slomovics (Tax); Jeanne Annarumma and Erica Rozow (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).