NXP $1.5 billion senior notes offering
The investment-grade offering includes $1 billion of green bonds
Davis Polk advised the joint bookrunners and representatives of the several underwriters in connection with an SEC-registered public debt offering by NXP B.V., NXP Funding LLC and NXP USA, Inc. of $500 million principal amount of 4.400% senior notes due 2027 and $1 billion principal amount of 5.000% senior notes due 2033. The notes are guaranteed on a senior unsecured basis by NXP Semiconductors N.V.
The 5.000% senior notes due 2033 are designated as “green bonds,” the net proceeds of which will be used to fund Eligible Green Projects.
NXP is a global semiconductor company. As a world leader in secure connectivity solutions for embedded applications, NXP is pushing boundaries in the automotive, industrial & IoT, mobile, and communication infrastructure markets. Built on more than 60 years of combined experience and expertise, NXP has approximately 31,000 employees in more than 30 countries and posted revenue of $11.06 billion in 2021.
The Davis Polk capital markets team included partner John B. Meade, counsel Jennifer Ying Lan and associate Courtney Clark. Counsel Tracy L. Matlock provided tax advice. Members of the Davis Polk team are based in the New York office.