Infineon placed corporate bonds with a volume of €2.9 billion under its recently established EMTN (European Medium Term Notes) program. The placement was more than 5-times oversubscribed and consists of four tranches with different maturities. The proceeds will be used to repay a part of the bank loans incurred for the acquisition of Cypress Semiconductor Corporation.
The bond issuance consists of four fixed-rate tranches with different maturities: a 3-year tranche of €750 million with a coupon of 0.75 percent p.a., a 6-year tranche of €750 million with a coupon of 1.125 percent p.a., a 9-year tranche of €750 million with a coupon of 1.625 percent p.a. and a 12-year tranche of €650 million with a coupon of 2.00 percent p.a. The notes are rated BBB- by S&P Global Ratings.
For more information, visit: www.infineon.com
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