NXP to raise $2bn for green projects
NXP Semiconductors is raising up to $2bn (€1.67bn) for specific projects in energy efficiency.
The funds raised in two tranches will be used for green projects such as resonant power device development and battery control and energy management for electric and hybrid cars. Other projects will include Advanced Driver Assistance Systems (ADAS) and beam steering antenna designs for mobile devices to improve the energy efficiency of cellular and WiFi systems.
The cash is also expected to be spent on edge processing devices and smart building technologies as well as energy efficiency measures at NXP’s manufacturing and non-manufacturing facilities.
The first tranche of $1bn will pay an interest rate of 2.5 percent until 2031, while the second will pay 3.25 percent and fall due in 2041.
The ‘senior subordinated’ notes are expected to be sold this week.
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