Applied Materials will sell senior unsecured notes worth about $1.75 billion. The note issue consists of three tranches, a $750 million part of 4.30% notes due in 2021, a $600 million tranche with a 5.85% coupon rate due in 2041 and a $400 million piece maturing in 2016. The proceeds are expected to be used by the company to fund its proposed merger with Varian Semiconductor Equipment. Citigroup and JP Morgan Chase have been appointed as the bookrunners for the debt issue.
Click here for the release from Applied Materials.