Texas Instruments is one of the companies that have sold a three year debt note with a record low 0.45% coupon. With the issue, it intends to borrow about US$1 billion in its two part offering.
The company is now intending to issue another batch of bonds between five and ten year notes according to a person with direct knowledge on the transaction who spoke on condition of anonymity. The proceeds of the sale would be used to repay outstanding debt, including its US$500 million of 0.875% notes that would mature on May 15. This action was read during the regulatory filing of documents made by Texas Instruments.
The company previously sold US$750 million worth of three year bonds at its lowest recorded coupon rate last July 2012. This rate has since been matched by three other major firms, such as Apple Inc, Unilever NV and Walt Disney, according to Bloomberg data.
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