SCHAFFHAUSEN, Switzerland, July 30,
2024 /PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL)
("TE Connectivity") today announced that its wholly-owned
subsidiary, Tyco Electronics Group S.A. ("TEGSA"), has priced an
offering of $350 million aggregate
principal amount of its 4.625% senior notes due 2030.
The offer is being made pursuant to an effective registration
statement filed by TE Connectivity and TEGSA on December 20, 2023, which includes a prospectus,
and a prospectus supplement dated July 30, 2024.
The $350 million senior notes due 2030 will be issued at a
price of 99.459% and will have a stated interest rate of 4.625% per
year, payable semi-annually.
TE Connectivity intends to use the net proceeds of this offering
for general corporate purposes, which may include the repayment of
outstanding debt.
BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and
Goldman Sachs & Co. LLC are joint book-running managers for
this offering, which is expected to close on August 2, 2024.
A copy of the base prospectus in the registration statement or
the prospectus supplement for the offering can be obtained from the
Securities and Exchange Commission's website at www.sec.gov or by
calling BNP Paribas Securities Corp. toll free at 1-800-854-5674,
Deutsche Bank Securities Inc. toll free at 1-800-503-4611 or
Goldman Sachs & Co. LLC collect at 1-866-471-2526.
This announcement does not constitute an offer to sell or the
solicitation of offers to buy any security and shall not constitute
an offer, solicitation, or sale of any security in any jurisdiction
in which such offer, solicitation, or sale would be unlawful.
About TE Connectivity
TE Connectivity Ltd. (NYSE: TEL) is a global industrial
technology leader creating a safer, sustainable, productive, and
connected future. Our broad range of connectivity and sensor
solutions enable the distribution of power, signal and data to
advance next-generation transportation, renewable energy, automated
factories, data centers, medical technology and more. With more
than 85,000 employees, including 8,000 engineers, working alongside
customers in approximately 140 countries, TE ensures that EVERY
CONNECTION COUNTS.
Forward-Looking Statements
This release contains certain "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. These statements are based on management's current
expectations and are subject to risks, uncertainties and changes in
circumstances, which may cause actual results, performance,
financial condition or achievements to differ materially from
anticipated results, performance, financial condition or
achievements. All statements contained herein that are not clearly
historical in nature are forward-looking and the words
"anticipate," "believe," "expect," "estimate," "plan," and similar
expressions are generally intended to identify forward-looking
statements. We have no intention and are under no obligation to
update or alter (and expressly disclaim any such intention or
obligation to do so) our forward-looking statements whether as a
result of new information, future events or otherwise, except to
the extent required by law. The forward-looking statements in this
release include statements regarding the notes offering. In
addition, our proposed change of incorporation from Switzerland to Ireland is subject to risks, such as the risk
that the change of place of incorporation might not be completed
or, if completed, that the anticipated advantages might not
materialize, as well as the risks that the price of our stock could
decline and our position on stock exchanges and indices could
change, and Irish corporate governance and regulatory schemes could
prove different or more challenging than currently
expected. Examples of factors that could cause actual results
to differ materially from those described in the forward-looking
statements include, among others, the extent, severity and duration
of business interruptions negatively affecting our business
operations; business, economic, competitive and regulatory risks,
such as conditions affecting demand for products in the automotive
and other industries we serve; competition and pricing pressure;
fluctuations in foreign currency exchange rates and commodity
prices; natural disasters and political, economic and military
instability in countries in which we operate, including continuing
military conflict in certain parts of the world; developments in
the credit markets; future goodwill impairment; compliance with
current and future environmental and other laws and regulations;
and the possible effects on us of changes in tax laws, tax treaties
and other legislation, including the effects of Swiss tax reform
(if applicable). More detailed information about these and other
factors is set forth in TE Connectivity Ltd.'s Annual Report on
Form 10-K for the fiscal year ended Sept.
29, 2023 as well as in our Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other reports filed by us with the
U.S. Securities and Exchange Commission.
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SOURCE TE Connectivity, LTD