Texas Instruments prices $1.2 billion of investment grade notes
DALLAS, May 20, 2025 /PRNewswire/ — Texas Instruments Incorporated (TI) (Nasdaq: TXN) today announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $1.2 billion. The notes consist of the following:
$550 million of 4.500% senior unsecured notes due May 23, 2030; and
$650 million of 5.100% senior unsecured notes due May 23, 2035.
TI expects to use the net proceeds of this offering for general corporate purposes. The offering is expected to close on May 23, 2025.
Barclays Capital Inc.; Morgan Stanley & Co. LLC; and MUFG Securities Americas Inc. are serving as joint book-running managers for the offering.
The offering of the notes is made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov or, in the alternative, from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by toll-free phone: (888) 603-5847 or by email: barclaysprospectus@broadridge.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by toll-free phone: (866) 718-1649 or by email: prospectus@morganstanley.com; or MUFG Securities Americas Inc., Attention: Capital Markets Group, 1221 Avenue of the Americas, 6th Floor, New York, NY 10020, by toll-free phone: (877) 649-6848.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or any other securities, nor will there be any sale of the notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.
About Texas Instruments
Texas Instruments Incorporated (Nasdaq: TXN) is a global semiconductor company that designs, manufactures and sells analog and embedded processing chips for markets such as industrial, automotive, personal electronics, enterprise systems and communications equipment. At our core, we have a passion to create a better world by making electronics more affordable through semiconductors. This passion is alive today as each generation of innovation builds upon the last to make our technology more reliable, more affordable and lower power, making it possible for semiconductors to go into electronics everywhere.
TXN-G
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
an hour ago
- New Straits Times
Vape device interim licence issued by Miti
KUALA LUMPUR: The Health Ministry has clarified that a recent interim licence for manufacturing nicotine-based vape devices was issued by the Investment, Trade and Industry Ministry (Miti). The licence was granted through the Malaysian Investment Development Authority (Mida) under the Industrial Coordination Act 1975 and local licensing laws. This comes after media reports said a Nasdaq-listed company from the United States had received Malaysia's first federal licence to produce nicotine products. The Health Ministry explained that while Miti issues manufacturing licences, the production, import, and sale of nicotine liquids are regulated under the Control of Smoking Products for Public Health Act 2024 (Act 852). Section 2 of the Act defines nicotine liquids—including substances like nicotine, propylene glycol, glycerol, and triethylene glycol—as smoking products. These products can be sold in Malaysia, but they are strictly regulated. The ministry said it is responsible for monitoring the contents and emissions of these products to protect public health. "The regulation of these smoking products also involves other government agencies, including an import control by the Customs Department through restrictions covering raw materials and finished goods under the Customs (Prohibition of Imports) Order 2008. "Among others, device safety standard testing by Sirim, enforced under the Trade Descriptions (Certification and Marking) of Electronic Cigarette Devices (Vape Device) Order 2022 under the Trade Descriptions Act 2011, under the purview of the Domestic Trade and Cost of Living Ministry," the statement read. The Health Ministry stressed that all decisions on vape liquid production and sales are made jointly by relevant authorities and reaffirmed its commitment to strong enforcement and public health safety.
The Star
3 hours ago
- The Star
Chinese listing spree sparks revival hopes in Hong Kong stocks
HONG KONG: A wave of listings by Chinese companies is expected to reinvigorate trading activity in Hong Kong, with optimism growing that a robust pipeline of debuts will drive the broader stock market higher. First-time share sales in Hong Kong have raised HK$77bil this year through May, the most for the period since 2021, buoyed by a blockbuster offering by battery giant Contemporary Amperex Technology Co (CATL). The boom looks set to continue as companies that represent China's industrial ambitions and rising technological capabilities – such chipmaker Will Semiconductor Co and luxury carmaker Seres Group Co – prepare to debut on the Hong Kong exchange. While there is yet to be a meaningful pickup in turnover, the listings are a welcome development for a market that had been bogged down in recent years by low liquidity and a dearth of prominent new entrants to attract global capital. The Hang Seng Index remains 25% below its 2021 peak despite a 16% gain this year. 'The fundraising rush will be a boon for liquidity and finally make Hong Kong 'China's Nasdaq,' more so than any of the onshore growth boards, given the quality of the listings,' said Chen Da, founder of Dante Research. The arrival of high-profile Chinese companies, and the trading activity that brings, may revitalise stocks that had fallen into obscurity due to low turnover in the broader market, he said. Hong Kong has long been a gateway for global investors seeking exposure to mainland Chinese companies, which currently make up 70% of the Hang Seng Index's weighting. While this role has also left the city's stocks vulnerable to China-US tensions, strong performance by recent entrants shows investors believe the rewards of owning a slice of China's new-economy stocks outweigh the risks of volatility. Share prices for bubble tea makers Mixue Group and Guming Holdings Ltd, and toy manufacturer Bloks Group Ltd., have more than doubled since their Hong Kong debuts this year. The offerings are 'fundamentally reshaping the DNA of the market, representing a strategic upgrade for the city's market,' said Yang Ruyi, fund manager at Shanghai Prospect Investment Management Co. 'Hong Kong is rebranding from merely a China offshore market into a globally- watched benchmark pricing the new economy.' Tech stocks and those embodying new consumption trends could make up 50% of the weightings of the exchange's constituents in the coming years, she expected. To some market watchers, the burst of activity is evoking memories of the initial public offering (IPO) boom in the early 2000s that laid the groundwork for a near-300% rally in the Hang Seng Index over the four years through 2007. Zeng Wenkai, a fund manager at Shengqi Asset Management, draws parallels to the momentum that followed Tencent Holdings Ltd's 2004 debut, and sees valuations increasing by 20% across the board over the next year. In another potential boost, fast-fashion retailer Shein Group Ltd is considering switching its planned IPO to Hong Kong from London. The bullish sentiment is evident in the gains in Hong Kong Exchanges & Clearing Ltd, whose stock has rallied 36% this year. IPO proceeds could reach HK$160bil – this year and put Hong Kong back at the top perch globally, according to estimates by CGS International. Bing Yuan, a fund manager at Edmond de Rothschild Asset Management, said stellar listings by the likes of CATL and Jiangsu Hengrui Pharmaceuticals Co suggest companies with global footprints and strong governance standards tend to attract more interest from international investors. Despite the budding optimism, a meaningful boost to liquidity and a shift in global funds' perception of Hong Kong as an attractive destination may take time to materialise. There is also the risk of new listings diverting demand away from existing stocks and somewhat offsetting the boost to the broader market. There's little doubt though that a broader revaluation is underway. The Hang Seng Index is among Asia's best performers this year, thanks to an earlier rally driven by DeepSeek's artificial intelligence breakthrough and Beijing's economic support. The Hong Kong benchmark now trades at 10.3 times forward earnings estimates, above a three-year average ratio at around nine. 'The inclusion of H-share listings of A-share companies in major MSCI indexes could serve as a meaningful catalyst for both passive and active capital flows into Hong Kong,' said Gary Tan, portfolio manager at Allspring Global Investments. 'This is particularly significant for sectors such as tech and consumer, which remain underrepresented in Hong Kong relative to their growing importance in China's economic future.' — Bloomberg
The Star
7 hours ago
- The Star
Asia share markets, dollar wary on tariff news
SYDNEY: Asian share markets made a wary start to the week on Monday as investors navigated the shifting sands of White House tariff policy, while awaiting key U.S. jobs data and a widely expected cut in European interest rates. There was little obvious reaction to President Donald Trump's threat late Friday to double tariffs on imported steel and aluminium to 50%, beginning on June 4, a sudden twist that drew the ire of European Union negotiators. Speaking on Sunday, Treasury Secretary Scott Bessent said Trump would soon speak with Chinese President Xi Jinping to iron out a dispute over critical minerals. White House officials continued to play down a court ruling that Trump had overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. "The court ruling will complicate the path ahead on trade policy, but there remains an ample set of provisions available to the administration to deliver its desired results," said Bruce Kasman, chief economist at JPMorgan. "There is a commitment to maintaining a minimum U.S. tariff rate of at least 10% and imposing further sector tariff increases," he added. "An increase in ASEAN to discourage transhipment looks likely, and the bias for higher tariffs on US-EU trade persists." Markets will be particularly interested to see if Trump goes ahead with the 50% tariff on Wednesday, or backs off as he has done so often before. In the meantime, caution reigned and MSCI's broadest index of Asia-Pacific shares outside Japan went flat. Japan's Nikkei fell 1.1%, while South Korean stocks dipped 0.1%. S&P 500 futures eased 0.2% and Nasdaq futures lost 0.3%. The S&P climbed 6.2% in May, while the Nasdaq rallied 9.6% on hopes final import levies will be far lower than the initial sky-high levels. Front-running the tariffs has already caused wild swings in the economy, with a contraction in the first quarter likely turning into a jump this quarter as imports fall back. The Atlanta Fed GDPNow estimate is running at an annualised 3.8%, though analysts assume this will slow sharply in the second half of the year. Data this week on U.S. manufacturing and jobs will offer a timely reading on the pulse of activity, with payrolls seen rising 130,000 in May while unemployment stays at 4.2%. EYEING UNEMPLOYMENT A rise in unemployment is one of the few developments that could get the Federal Reserve to start thinking of easing policy again, with investors having largely given up on a cut this month or next. A move in September is seen at around a 75% chance, though Fed officials have stopped well short of endorsing such pricing. There are at least 11 Fed speakers on the diary for this week, led by Fed Chair Jerome Powell later on Monday. Fed Governor Christopher Waller did say on Sunday that cuts remain possible later this year as he saw downside risks to economic activity and employment and upside risks to inflation from the tariffs. A softer jobs report would be a relief for the Treasury market, where 30-year yields continue to flirt with the 5% barrier as investors demand a higher premium to offset the ever-expanding supply of debt. The Senate this week will start considering a tax-and-spending bill that will add an estimated $3.8 trillion to the federal government's $36.2 trillion in debt. Across the Atlantic, the European Central Bank is considered almost certain to cut its rates by a quarter point to 2.0% on Thursday, while markets will be sensitive to guidance on the chance of another move as early as July. The Bank of Canada meets Wednesday and markets imply a 76% chance it will hold rates at 2.75%, while sounding dovish on the future given the tariff-fuelled risk of recession there. Widening rate spreads have so far offered only limited support to the U.S. dollar. "The greenback remains near the lower end of its post-2022 range and considerably weaker than interest rate differentials would imply," noted Jonas Goltermann, deputy chief markets economist at Capital Economics. "Sentiment around the greenback remains negative and it continues to look vulnerable to further bad news on the fiscal and trade policy fronts." On Monday, the dollar had dipped 0.2% on the yen to 143.79 , while the euro edged up a fraction to $1.1353 . The greenback also slipped 0.1% on the Canadian dollar to 1.3727, getting no tailwind from Trump's threat of 50% tariffs on Canadian steel exports. In commodity markets, gold edged up 0.6% to $3,310 an ounce , having lost 1.9% last week. Oil prices bounced after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, a relief to some who had feared an even bigger increase. Brent rose $1.07 to $63.85 a barrel, while U.S. crude gained $1.18 to $61.95 per barrel. - Reuters
