Freescale Semiconductor has selected Deutsche Bank and Citigroup to handle its initial public offering (IPO), Bloomberg reports. Credit Suisse and Barclays have also been picked to work on the IPO sale.

The chipmaker owned by private equity firms owned has not disclosed the financial details of the offering. Freescale will use the proceeds from the offering to repay its $1.2 billion of debt coming due in 2014.

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