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4-Traders Homepage  >  Equities  >  Nasdaq  >  Texas Instruments Incorporated    TXN

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Texas Instruments Incorporated : prices $600 million of investment grade notes

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04/27/2017 | 10:46pm CEST

DALLAS, April 27, 2017 /PRNewswire/ -- Texas Instruments Incorporated (TI) (NASDAQ: TXN) today announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $600 million. The notes consist of the following:

    --  $300 million of 2.750% senior unsecured notes due March 12, 2021
    --  $300 million of 2.625% senior unsecured notes due May 15, 2024

The 2.750% notes due March 12, 2021, will be a further issuance of, and form a single series with, the $250 million aggregate principal amount of the existing 2.750% notes due 2021 issued by TI on March 12, 2014.

TI expects to use the net proceeds of this offering for repayment of outstanding debt and the remainder, if any, for general corporate purposes. The offering is expected to close on May 4, 2017.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Barclays Capital Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Mizuho Securities USA LLC are serving as joint book-running managers for the offering.

The offering of the notes is made only by means of a prospectus, copies of which may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (800) 831-9146; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by calling (866) 718-1649; MUFG Securities Americas Inc., Attention: Capital Markets Group, 1221 Avenue of the Americas, 6(th) Floor, New York, NY 10020, or by calling (877) 649-6848; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected], or by calling (888) 603-5847; J.P. Morgan Securities LLC, Investment Grade Syndicate Desk, 383 Madison Avenue, New York, New York 10179, or by calling (212) 834-4533; Merrill Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North College Street, 3(rd) Floor, Charlotte, North Carolina 28255, Attn: Prospectus Department, or by email at [email protected], or by calling (800) 294-1322; and Mizuho Securities USA LLC, Attention: Debt Capital Markets, 320 Park Avenue, 12th Floor, New York, New York 10022, or by calling (866) 271-7403.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or any other securities, nor will there be any sale of the notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.

About Texas Instruments

Texas Instruments Incorporated (TI) is a global semiconductor design and manufacturing company that develops analog ICs and embedded processors. By employing the world's brightest minds, TI creates innovations that shape the future of technology. TI is helping approximately 100,000 customers transform the future, today.

TXN-G

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/texas-instruments-prices-600-million-of-investment-grade-notes-300447636.html

SOURCE Texas Instruments Incorporated

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Financials ($)
Sales 2017 14 292 M
EBIT 2017 5 455 M
Net income 2017 3 951 M
Debt 2017 126 M
Yield 2017 2,42%
P/E ratio 2017 20,44
P/E ratio 2018 19,57
EV / Sales 2017 5,55x
EV / Sales 2018 5,34x
Capitalization 79 151 M
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Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 84,8 $
Spread / Average Target 7,1%
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Richard K. Templeton Chairman, President & Chief Executive Officer
Brian T. Crutcher Chief Operating Officer
Rafael R. Lizardi Chief Financial Officer
Kevin J. Ritchie Senior VP-Technology & Manufacturing Group
Ellen L. Barker Chief Information Officer & Vice President
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