TE Connectivity Prices $1 Bln Senior Notes Offering

(RTTNews) - TE Connectivity Ltd. (TEL) said Monday that its subsidiary, Tyco Electronics Group S.A., has priced an offering of $500 million aggregate principal amount of its floating rate senior notes due 2016, $250 million aggregate principal amount of its 2.350% senior notes due 2019 and $250 million aggregate principal amount of its 3.450% senior notes due 2024.

The $500 million floating rate senior notes due 2016 will be issued at par and will bear interest at a rate of three-month LIBOR plus 20 basis points per year, payable quarterly. The $250 million senior notes due 2019 will be issued at a price of 99.948% and will have a stated interest rate of 2.350% per year, payable semi-annually. The $250 million senior notes due 2024 will be issued at a price of 99.614% and will have a stated interest rate of 3.450% per year, payable semi-annually.

TE Connectivity plans to use the net proceeds of the offering for general corporate purposes, including to fund a portion of the purchase price of TE Connectivity's previously announced acquisition of Measurement Specialties, Inc.