Infineon Takes a Step to Refinance the Cypress Acquisition, Places ?2.9 Billion in Bonds with Maturities up to Twelve Years

By Tiera Oliver

Assistant Editor

Embedded Computing Design

June 18, 2020

News

Infineon Takes a Step to Refinance the Cypress Acquisition, Places ?2.9 Billion in Bonds with Maturities up to Twelve Years

Infineon placed corporate bonds with a volume of €2.9 billion under its recently established EMTN (European Medium Term Notes) program.

Infineon placed corporate bonds with a volume of €2.9 billion under its recently established EMTN (European Medium Term Notes) program. The placement was more than 5-times oversubscribed and consists of four tranches with different maturities. The proceeds will be used to repay a part of the bank loans incurred for the acquisition of Cypress Semiconductor Corporation.

The bond issuance consists of four fixed-rate tranches with different maturities: a 3-year tranche of €750 million with a coupon of 0.75 percent p.a., a 6-year tranche of €750 million with a coupon of 1.125 percent p.a., a 9-year tranche of €750 million with a coupon of 1.625 percent p.a. and a 12-year tranche of €650 million with a coupon of 2.00 percent p.a. The notes are rated BBB- by S&P Global Ratings.

For more information, visit: www.infineon.com

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Tiera Oliver, Assistant Editor for Embedded Computing Design, is responsible for web content edits and constructing stories. She also assists with newsletter updates as well as contributing and editing content for ECD podcasts and the ECD YouTube channel. Before working at ECD, Tiera graduated from Northern Arizona University where she received her B.S. in journalism and political science and worked as a news reporter for the university’s student led newspaper, The Lumberjack.

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