Micron Announces Pricing of $1.25 Billion of Senior Notes
April 21 2020 - 08:44PM
Micron Technology, Inc. (Nasdaq: MU) announced today that it has
entered into an agreement to sell $1.25 billion aggregate principal
amount of its 2.497% Senior Notes due 2023 (the “notes”) pursuant
to an effective shelf registration statement on file with the
Securities and Exchange Commission (the “SEC”). The offering
is expected to settle on April 24, 2020, subject to customary
closing conditions.
Citigroup Global Markets Inc, Credit Suisse Securities (USA)
LLC, and Morgan Stanley & Co. LLC are the joint book-running
managers of the notes offering.
The notes will bear interest at a rate of 2.497% per year.
Interest on the notes will be payable semi-annually on April 24 and
October 24 of each year, commencing on October 24, 2020.
Micron intends to use the net proceeds of the offering to repay
a portion of the outstanding borrowings under its existing
revolving credit facility.
Micron has filed an effective registration statement (including
a preliminary prospectus supplement and accompanying base
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
preliminary prospectus supplement included in that registration
statement and other documents Micron has filed with the SEC for
more complete information about Micron and this offering. Copies of
these documents may be obtained at no cost by visiting EDGAR on the
SEC website at www.sec.gov. Alternatively, Citigroup
Global Markets Inc., Credit Suisse Securities (USA) LLC, and Morgan
Stanley & Co. LLC can arrange to send you the prospectus if you
request it by calling Citigroup Global Markets Inc. at
1-800-831-9146, Credit Suisse Securities (USA) LLC at
1-800-221-1037 or Morgan Stanley & Co. LLC at
1-866-718-1649.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the notes described herein, nor
shall there be any sale of these notes in any state or other
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering of these
notes will be made only by means of a prospectus supplement and the
related prospectus. The notes being offered have not been approved
or disapproved by any regulatory authority, nor has any such
authority passed upon the accuracy or adequacy of the registration
statement, the prospectus contained therein or the prospectus
supplement.
This press release contains forward-looking statements related
to the proposed public offering and settlement of notes and
Micron’s intended use of the net proceeds of the offering. Actual
events or results may differ materially from those contained in the
forward-looking statements. Please refer to Micron’s registration
statement on Form S-3 and the preliminary prospectus supplement
incorporated by reference therein, as well as the other documents
Micron files, from time to time, with the SEC, specifically
Micron’s most recent Form 10-K and Form 10-Q. These documents
contain and identify important factors that could cause the actual
results for Micron on a consolidated basis to differ materially
from those contained in Micron's forward-looking statements.
Although Micron believes that the expectations reflected in the
forward-looking statements are reasonable, Micron cannot guarantee
future results, levels of activity, performance or achievements.
Micron is under no duty to update any of the forward-looking
statements after the date of this press release to conform to
actual results.
Micron Media Relations Contact
Erica Rodriguez Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com
Micron Investor Relations Contact
Farhan Ahmad
Micron Technology, Inc.
+1 (408) 834-1927
farhanahmad@micron.com
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