Applied Materials plans to redeem $400 million 2.65% notes due 2016

By Susanna Moon

Chicago, Sept. 21 – Applied Materials, Inc. plans to redeem or repay its outstanding $400 million 2.65% senior notes due June 15, 2016, according to a 424B5 filing with the Securities and Exchange Commission.

Funding for the redemption will come from an issue of senior notes in three tranches.

As previously reported, the company planned to price a benchmark offering of senior notes on Monday in tranches due 2020, 2025 and 2035.

The remaining proceeds will be used for general corporate purposes.

Applied Materials is a Santa Clara, Calif., manufacturer of semiconductor equipment.

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