Munich – Infineon Technologies AG has successfully signed a $1.3 billion US private placement of notes. The proceeds of the transaction will be used to repay existing US Dollar bank term loans related to the acquisition of Cypress Semiconductor Corporation.
“Infineon has agreed this US private placement at very attractive conditions,” said Dr. Sven Schneider, Chief Financial Officer of Infineon. “The strong oversubscription of the transaction is a clear evidence of the confidence of capital markets in the economic prospects of Infineon. It underlines the credibility Infineon has established in the financial markets providing us full access to all relevant funding sources”.
A broad group of more than 40 institutional investors, including almost all investors in Infineon’s outstanding 2016 US private placement, are participating in the transaction. The current transaction consists of four tranches with maturities of six, eight, ten and twelve years.
Closing of the transaction and receipt of the proceeds is subject to customary closing conditions. Bank of America Securities and Mizuho acted as Joint Lead Agents on the transaction.
The distribution of this announcement and the offering of the notes in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions. This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States of America, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
Securities may not be offered or sold absent registration except pursuant to an exemption from, or a transaction not subject to, the registration requirements under the U.S. Securities Act of 1933, as amended. There will be no public offer of securities in the United States of America or in any other jurisdiction.
To the extent this announcement contains predictions, expectations or statements, estimates, opinions and projections with respect to anticipated future performance of Infineon (“forward-looking statements”), they are based upon current views and assumptions of the Infineon management, which were made to its best knowledge. Forward-looking statements reflect various assumptions taken from Infineon’s current business plan or from public sources which have not been independently verified or assessed by Infineon and which may or may not prove to be correct. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which could cause the earnings position, profitability, performance or the results of Infineon or the success of the industries in which Infineon operates to differ materially from the earnings position, profitability, performance or the results expressly or implicitly assumed or described in these forward-looking statements. In consideration of these risks, uncertainties and other factors, persons receiving this document are advised not to rely on these forward-looking statements. Infineon does not assume any liability or guarantee for such forward-looking statements and will not adjust them to any future results and developments.
Further information is available at www.infineon.com