Motorola Solutions sets 114.115 redemption price for 6% notes due 2017

By Jennifer Chiou

New York, Sept. 9 – Motorola Solutions, Inc. announced a redemption price of $1,141.15 per $1,000 principal amount of 6% senior notes due Nov. 15, 2017.

The $400 million of outstanding notes will be redeemed on Sept. 11 along with $19.33 of accrued interest per $1,000 of notes.

Pricing was set at 5 p.m. ET on Sept. 8 using the yield to maturity of the 4.25% Treasury securities due Nov. 15, 2017 plus a fixed spread of 30 basis points. The reference yield was 1.139%.

As previously reported, funding for the redemption will come from the issue of the company’s $1.4 billion principal amount of 3.5% senior notes due 2021, 4% senior notes due 2024 and 5.5% senior notes due 2044.

Bank of New York Mellon Trust Co., NA (800 254-2826) is the trustee for the 6% notes.

Motorola is a communications technology company based in Schaumburg, Ill.

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