Key Developments: NXP Semiconductors NV (NXPI.O)
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24 May 2013
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Latest Key Developments (Source: Significant Developments)
Nxp Semiconductors NV Announces Upsizing And Pricing Of Senior Unsecured Notes Offering
Nxp Semiconductors NV announced that he upsizing of the previously announced offering by its subsidiaries NXP B.V. and NXP Funding LLC of USD 500 million to an offering of USD 750 million aggregate principal amount of senior notes due 2018 pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended and also announced the pricing of the offering. The Unsecured Notes will be structurally subordinated to the liabilities, including trade payables, of NXP's subsidiaries that have not guaranteed the Unsecured Notes. In addition, the Unsecured Notes will be effectively subordinated to all secured debt of the issuers and the guarantors, to the extent of the value of the assets securing such debt. The sale of the Unsecured Notes is expected to close on or around May 20, 2013. The Unsecured Notes will bear interest at 3.75% per annum and will mature on June 1, 2018. Interest on the Unsecured Notes will be payable semi-annually on June 1 and December 1 of each year, beginning on December 1, 2013. NXP intends to use the net proceeds of the offering to repay amounts outstanding under its U.S. dollar denominated floating rate senior secured notes due 2016, and thereby decrease the amount of variable rate debt in its capital structure. In addition, the net proceeds of the offering will be used for general corporate purposes, including the repurchase, redemption or repayment of a portion of NXP's existing long-term secured indebtedness. Full Article
Nxp Semiconductors NV Acquires Code Red Technologies
Nxp Semiconductors NV announced its acquisition of Code Red Technologies, an embedded software development tools provider, as a strategic addition to its microcontroller business line. The financial terms of the agreement were not disclosed. Full Article
Nxp Semiconductors NV Issues Q2 2013 Guidance; Revenue Guidance Above Analysts' Estimates
Nxp Semiconductors NV announced that for the second quarter of 2013, it expects total revenue in the range of $1.147-$1.210 billion, non-GAAP net income in the range of $160-$181 million and non-GAAP EPS in the range of $0.62-$0.70. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.140 billion, net income of $161 million and EPS of $0.62 for the second quarter of 2013. Full Article
Nxp Semiconductors NV Announces Pricing Of Secondary Offering Of Common Stock
Nxp Semiconductors NV announced that the pricing of the previously announced secondary offering of 25,000,000 shares of its common stock to be sold by certain of its principal stockholders, including affiliates of funds managed or advised by AlpInvest Partners B.V., Apax Partners LLP, Bain Capital Partners, LLC and Silver Lake Technology Management, L.L.C., pursuant to NXP's shelf registration statement on Form F-3. The offering is expected to settle and close on March 13, 2013, subject to customary closing conditions. NXP will not receive any proceeds from the sale of shares in the offering. BofA Merrill Lynch and Credit Suisse are acting as joint book-running managers for the offering. Full Article
Nxp Semiconductors NV And Delphi Automotive PLC Announces Strategic Collaboration Agreement
Nxp Semiconductors NV announced an agreement with Delphi Automotive PLC that extends the two companies' long-term relationship in automotive electronics by making NXP one of Delphi's strategic core suppliers. This agreement encompasses a variety of automotive semiconductor applications including infotainment and networking solutions. Under this agreement, Delphi has selected NXP's SAF775x family, the single-chip RFCMOS multi-tuner car radio IC and NXP's AM/FM background tuner. Delphi continues to be at the forefront of using NXP's software-defined radio for digital reception, such as the SAF36xx family. Full Article
Nxp Semiconductors NV Announces Pricing Of Secondary Offering of Common Stock
Nxp Semiconductors NV announced the pricing of the previously announced secondary offering of 30,000,000 shares of its common stock to be sold by certain of its principal stockholders, including affiliates of funds managed or advised by AlpInvest Partners B.V., Apax Partners LLP, Bain Capital Partners, LLC, Kohlberg Kravis Roberts & Co. L.P. and Silver Lake Technology Management, LLC, pursuant to NXP's shelf registration statement on Form F-3, at a price to the public of $30.35 per share. The offering is expected to settle and close on February 7, 2013, subject to customary closing conditions. NXP will not receive any proceeds from the sale of shares in the offering. Barclays and Credit Suisse are acting as joint bookrunning managers for the offering. Full Article
Nxp Semiconductors NV Commences Secondary Offering Of Common Stock
Nxp Semiconductors NV announced that certain of principal stockholders, including affiliates of funds managed or advised by AlpInvest Partners B.V., Apax Partners LLP, Bain Capital Partners, LLC, Kohlberg Kravis Roberts & Co. L.P. and Silver Lake Technology Management, LLC, have commenced a registered secondary offering of 30,000,000 shares of common stock pursuant to NXP's shelf registration statement on Form F-3. NXP will not receive any proceeds from the sale of shares in the offering. Barclays and Credit Suisse are acting as joint bookrunning managers for the offering. Full Article
Nxp Semiconductors NV Issues Q1 2013 Revenue Guidance; Earnings Guidance Above Analysts' Estimates
Nxp Semiconductors NV announced that for first quarter 2013, it expects total revenue to be in the range of $1.051 billion to $1.082 billion, non-GAAP net income in the range of $121 million to $130 million and non-GAAP EPS in the range of $0.47 to $0.51. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.067 billion, net income of $115 million and EPS of $0.46 for the first quarter of 2013. Full Article
Nxp Semiconductors NV And Audi AG Announce Strategic Partnership For Automotive Innovation
Nxp Semiconductors NV and Audi AG announced at electronica 2012 that they have signed a strategic partnership for innovation. The partnership focuses on innovation speed and time to market in eight select automotive electronics application segments ranging from long-established core leadership positions of NXP's automotive business, such as in-vehicle networking and car entertainment, to emerging technologies for the connected car. This includes Car-to-X communications, telematics, Near Field Communications (NFC), and high-voltage controls for electrical vehicles. Full Article
Nxp Semiconductors NV Issues Q4 2012 Guidance; Revenue And EPS Guidance Below Analysts' Estimates
Nxp Semiconductors NV announced that for the fourth quarter of 2012, it expects total revenue in the range of $1.059-$1.126 billion, non-GAAP net income in the range of $106-$135 million and non-GAAP EPS in the range of $0.41-$0.53. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.162 billion, net income of $133 million and EPS of $0.56 for the fourth quarter of 2012. Full Article
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