Freescale to use loan proceeds to redeem senior notes due 2016, 2014

By Tali David

Minneapolis, Feb. 16 - Freescale Semiconductor Holdings I, Ltd. plans to use the proceeds from a planned $500 million senior secured term loan facility to redeem a portion of its senior subordinated notes due 2016 and a portion of its senior notes due 2014, the company announced in a press release.

Proceeds would also be used to pay related redemption premiums, fees and expenses.

The company is seeking commitments for the new term loan, which will be a part of its existing senior secured credit facilities.

Freescale Semiconductor is an Austin, Texas-based manufacturer of microprocessors, semiconductors and microcontrollers.

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