Texas Instruments prices $750 million of 2.25% 10-year notes at 75 bps over Treasuries

By Devika Patel

Knoxville, Tenn., Aug. 26 – Primary activity for the investment-grade bond market saw one new deal launched on Monday.

The bond markets are expected to remain subdued this week as market participants look ahead of the extended Labor Day holiday weekend.

Dallas-based Texas Instruments Inc., a semiconductor designer and manufacturer, sold $750 million of 2.25% 10-year notes.

The company priced the notes at 99.689 to yield 2.285%, or 75 bps over Treasuries.

Barclays, BofA Securities, Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and MUFG were the bookrunners.

Proceeds will be used for general corporate purposes.

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