TE Connectivity Ltd. has announced the pricing of $350 million aggregate principal amount of its 4.625% senior notes due 2030. The notes will be issued at a price of 99.459% and will have a stated interest rate of 4.625% per year, payable semi-annually. The offering is expected to close on August 2, 2024, and the net proceeds will be used for general corporate purposes, including the repayment of outstanding debt.
TE Connectivity Ltd. (NYSE: TEL) is a global industrial technology leader with a broad range of connectivity and sensor solutions. The company has more than 85,000 employees, including 8,000 engineers, and operates in approximately 140 countries.
In the previous period, TE Connectivity Ltd. reported $3.7 billion in net sales, reflecting a 29% increase from the same period last year. The company also reported an operating margin of 14.5%, up 1.3% from the prior period. Additionally, TE Connectivity Ltd. achieved a net income of $567 million, marking a 17% increase from the previous period.
The company's earnings per share (EPS) stood at $1.62, representing a 20% increase from the prior period. TE Connectivity Ltd. also generated $743 million in free cash flow, demonstrating a significant improvement from the same period last year.
TE Connectivity Ltd.'s strong financial performance can be attributed to its continued focus on innovation and operational efficiency. The company's commitment to delivering sustainable and connected solutions has contributed to its growth and success in various industrial sectors, including transportation, renewable energy, automated factories, data centers, and medical technology.
With the successful pricing of its senior notes offering, TE Connectivity Ltd. is poised to further strengthen its financial position and pursue its strategic initiatives for long-term value creation. Today the company's shares have moved -3.3% to a price of $145.4. For the full picture, make sure to review TE Connectivity's 8-K report.
