- Texas Instruments Inc TXN priced two series of senior unsecured notes for an aggregate principal amount of $800 million.
- The notes consisted of $300 million of 4.700% senior unsecured notes due November 18, 2024, and $500 million of 4.600% senior unsecured notes due February 15, 2028.
- TI plans to use the offering proceeds for general corporate purposes.
- TI held $9.09 billion in cash and equivalents and $7.44 billion in long-term debt as of September 30.
- In September, TI proposed raising its quarterly cash dividend by 8% to $1.24 per share and launching $15 billion in share repurchases in addition to $8.2 billion remaining under previous authorization.
- Price Action: TXN shares are trading lower by 0.07% at $177.44 during the pre-market session on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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