NXP Announces $500 Million Term Loan Transaction and Closing Initial Tranche of Private Exchange Transaction

NXP Semiconductors N.V.

announced today that its subsidiary, NXP B.V., together with NXP Funding LLC, has launched a transaction seeking commitments for up to US$500 million in new senior secured loans due 2017, the proceeds of which would be used to refinance a portion of NXP's existing secured floating rate notes. The new secured loans would be drawn as additional loans under NXP's existing Senior Secured Term Loan Facility due 2017. The lead-left bookrunner on the transaction is Barclays Capital, the investment banking arm of Barclays Bank plc and Credit Suisse will be joint bookrunner.