NXP Semiconductors Lines Up $7 Billion of Debt to Buy FreescaleCordell Eddings
NXP Semiconductors NV obtained as much as $7 billion in financing commitments toward its $11.8 billion purchase of Freescale Semiconductor Ltd, according to a regulatory filing.
Credit Suisse Group AG will commit as much as $6.5 billion in term loans and $500 million in revolving credit financing, the Eindhoven, Netherlands-based NXP said in a regulatory filing today. Proceeds will fund the acquisition of Austin, Texas-based Freescale and refinance its debt. Including Freescale debt, the purchase price is about $16.7 billion.
The stock of the Dutch company, which has a market value of $23 billion, has returned 76 percent over the past year, more than five times the Standard & Poor’s 500 Index.
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