NXP Semiconductors’ subsidiary, NXP, along with NXP Funding has secured a new $500 million senior secured term loan facility, due in 2017. Barclays Capital was the sole lead arranger on the transaction, which is scheduled to close within a month. The contracts of the term loan correspond to those contained in NXP’s existing secured notes and credit facilities. The company may issue redemption notices for all $362 million senior secured notes due in 2014, the $100 million U.S. dollar-denominated floating rate notes due 2013 and the $200 million euro-denominated floating rate notes due 2013.
Click here for the release from NXP.