NXP $2 billion senior notes offering
Davis Polk advised the joint bookrunners and representatives of the several initial purchasers in connection with an offering by NXP B.V., NXP Funding LLC and NXP USA, Inc. of $1 billion principal amount of 2.500% senior notes due 2031 and $1 billion principal amount of 3.250% senior notes due 2041 under Rule 144A and Regulation S (with registration rights). The notes are guaranteed on a senior unsecured basis by NXP Semiconductors N.V., and the proceeds from the 2031 senior notes will be allocated to eligible green projects.
As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the automotive, industrial & IoT, mobile and communication infrastructure markets. Built on more than 60 years of combined experience and expertise, NXP has approximately 29,000 employees in more than 30 countries and posted revenue of $8.61 billion in 2020.
The Davis Polk capital markets team included partner John B. Meade, counsel Jennifer Ying Lan and associate Prince Kudolo. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the New York and London offices.