Motorola Solutions Announces Increase to $315 million Aggregate Purchase Price of Tender Offer for Certain of its Outstanding Debt

Nachrichtenquelle: Business Wire (engl.)
10.08.2020, 21:50  |  137   |   |   

Motorola Solutions, Inc. (NYSE: MSI) (the “Company”) announced today that it has increased the aggregate purchase price of its debt tender offer to purchase for cash up to the Maximum Waterfall Tender Amount (as defined below) in aggregate purchase price of the Company’s outstanding securities listed in the Table below (each a “Security and collectively the “Securities”), subject to the Acceptance Priority Levels as defined below (the “Offer”).

The “Maximum Waterfall Tender Amount” has been increased from (i) an aggregate purchase price equal to $215 million to (ii) an aggregate purchase price equal to $315 million. All other terms of the tender offer remain unchanged.

The tender offer is intended to allow the Company to issue new debt securities to fund the repurchase of the Securities, thereby extending the maturity date of its debt securities. The Company expects to fund the tender offer with the proceeds from the issuance and sale of debt securities in one or more capital markets transactions, together with available cash on hand.

Securities Subject to the Offer

Title of Security

Principal Amount
Outstanding

CUSIP/ISIN

Acceptance Priority
Level

Early Tender
Premium(1)

Reference US Treasury
Security

Bloomberg
Reference
Page/Screen

Fixed Spread
(basis points)

7.500% Debentures due 2025

$255,064,000

CUSIP: 620076 AH2

ISIN: US620076AH21

1

$50.00

0.250% U.S.T. due 07/31/25

PX1

145

6.500% Debentures due 2025

$ 72,403,000

CUSIP: 620076 AK5

ISIN: US620076AK59

2

$50.00

0.250% U.S.T. due 07/31/25

PX1

145

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