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Zebra Technologies Announces Launch of $1.25 Billion Senior Unsecured Note Private Offering

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Zebra Technologies Corporation (NASDAQ: ZBRA) today announced that it intends to offer, subject to market and other conditions, up to $1.25 billion in aggregate principal amount of new senior unsecured notes due 2022 (the "Notes") in a private offering.

Zebra intends to use the net proceeds from the Notes offering, together with cash on hand and proceeds from Zebra's previously announced $2 billion senior secured term loan, to fund the $3.45 billion cash acquisition of the Enterprise business of Motorola Solutions, Inc. (NYSE: MSI), as well as to pay related transaction fees and expenses. Zebra expects that the proceeds from the private offering of the Notes will be placed into escrow until the closing of the acquisition. The Notes will be senior unsecured obligations of Zebra and will be guaranteed by certain of Zebra's domestic subsidiaries following the closing of the acquisition.

The Notes and related guarantees will not be registered under the Securities Act of 1933, as amended ("Securities Act"), or the securities laws of any other jurisdiction, and will not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This offering will be made only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons in accordance with Regulation S under the Securities Act.

Posted-In: News Offerings Press Releases

 

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