TE Connectivity plc has announced the pricing of a significant €750 million 3.250% senior notes offering by its indirect wholly-owned subsidiary, Tyco Electronics Group S.A. (TEGSA). The offering, which is due in 2033, has been priced at 99.136% of the aggregate principal amount and carries a stated interest rate of 3.250% per year, payable annually. The offering is expected to close on January 31, 2025.
TE Connectivity intends to utilize the net proceeds from this offering for general corporate purposes, including the potential repayment of outstanding debt. The joint book-running managers for this offering are BofA Securities Europe SA, Citigroup Global Markets Limited, and J.P. Morgan Securities plc.
This announcement comes as TE Connectivity continues to solidify its position as a global industrial technology leader. With more than 85,000 employees, including 9,000 engineers, the company's connectivity and sensor solutions are instrumental in advancing next-generation transportation, renewable energy, automated factories, data centers, medical technology, and more.
The offering is being made pursuant to an effective registration statement filed by TE Connectivity, TE Connectivity Switzerland Ltd., and TEGSA on October 1, 2024, which includes a prospectus and a prospectus supplement dated January 28, 2025.
This announcement does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful. Following these announcements, the company's shares moved -1.2%, and are now trading at a price of $147.97. If you want to know more, read the company's complete 8-K report here.