US based telco Motorola announced that it has commenced cash tender offers to purchase up to US$400m aggregate principal amount of certain specified series of its outstanding debt securities.
The tender offers are made up of an ‘any and all offer and a…
US based telco Motorola announced that it has commenced cash tender offers to purchase up to US$400m aggregate principal amount of certain specified series of its outstanding debt securities.
The tender offers are made up of an ‘any and all offer and a ‘Dutch auction offer’. The former sees Motorola offering to purchase any and all of its outstanding 5.22% debentures due 2097 and the latter offer is for outstanding 6.50% debentures due in 2025, 6.50% debentures due 2028 and 6.625% senior notes due in 2037. The any and all offer auction ends on June 7 and the Dutch auction offer on June 21.
JP Morgan Securities, Deutsche Bank Securities and HSBC Securities (USA) are lead deal managers for the deal.