US vendor Motorola Solutions has issued US$750m of ten-year senior unsecured notes, according to an SEC filing. The notes carry a coupon of 3.750% and an issue price of 99.637%.
The company plan to use part of the proceeds from the issuance to…
US vendor Motorola Solutions has issued US$750m of ten-year senior unsecured notes, according to an SEC filing. The notes carry a coupon of 3.750% and an issue price of 99.637%.
The company plan to use part of the proceeds from the issuance to refinance US$400m of 5.375% senior notes due in November with the remaining proceeds to fund general corporate purposes according to ratings agency Fitch.
Interest on the notes is due semi-annually, commencing from 15 November 2012.
The joint book-running managers are Deutsche Bank Securities, Goldman, Sachs & Co., and J.P. Morgan. The co-managers are BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Mizuho Securities USA Inc., RBS Securities Inc., and U.S. Bancorp Investments, Inc.
The notes were rated Baa2 by Moody’s, BBB by S&P and BBB by Fitch.
