Texas Instruments Completes $3.0 Billion Investment Grade Notes Offering
02.12.24
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Simpson Thacher represented the underwriters in connection with the recent public offering by Texas Instruments Incorporated of an aggregate of $3.0 billion in investment grade notes, consisting of $650 million aggregate principal amount of 4.6% Senior Notes due 2027, $650 million aggregate principal amount of 4.6% Senior Notes due 2029, $600 million aggregate principal amount of 4.85% Senior Notes due 2034, $750 million aggregate principal amount of 5.15% Senior Notes due 2054 and $350 million aggregate principal amount of additional 5.05% Senior Notes due 2063. The additional 5.05% Senior Notes constituted a reopening of the $1.2 billion principal amount of notes initially issued on May 18, 2023 increasing the aggregate principal amount of the series to $1.55 billion.
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 for general corporate purposes.
The Simpson Thacher team for the transaction included Joseph Kaufman and Sydney Mark (Capital Markets); Jonathan Cantor and Michael Slomovics (Tax); Noreen Lavan (Environmental); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).