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BRIEF-NXP Semiconductors announces debt reduction
February 10, 2017 / 2:02 PM / 10 months ago

BRIEF-NXP Semiconductors announces debt reduction

Feb 10 (Reuters) - Nxp Semiconductors Nv

* NXP Semiconductors announces substantial debt reduction

* NXP Semiconductors nv - gross debt held on nxp’s balance sheet will be reduced by an aggregate of $2.7 billion to $6.5 billion

* NXP semiconductors nv - will pre-pay all of its outstanding floating-rate term loan due march 2017 in an aggregate principal amount of $388 million

* NXP Semiconductors - gross debt held on nxp’s balance sheet will be reduced by an aggregate of $2.7 billion to $6.5 billion from $9.2 billion as reported at end of q4 of 2016

* NXP Semiconductors NV says estimates its financial interest expense, after debt reduction will be approximately $245 million on an annualized basis

* NXP Semiconductors NV - will pre-pay all its outstanding floating-rate term loan due january 2020 in an aggregate principal amount of $387 million

* NXP Semiconductors nv - will pre-pay all its outstanding floating-rate term loan due december 2020 in an aggregate principal amount of $1,436 million

* NXP Semiconductors -will utilize proceeds from completed divestment of its standard products business to fund planned debt reduction

* NXP Semiconductors - will utilize net proceeds from divestment of standard products business & cash held on its balance sheet to fund debt reduction

* NXP Semiconductors - notified holders of its 5.75 percent senior notes due 2021 that it will redeem on march 9, 2017, $500 million of outstanding principle Source text for Eikon: Further company coverage:

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