TECH - Zebra Prices $500M Senior Notes in Private Offering | Benzinga
Zebra Technologies Corporation (NASDAQ: ZBRA) recently announced the pricing of its private offering of senior notes worth $500 million in aggregate principal amount. The offering is anticipated to close on May 28, 2024, conditional on certain customary closing conditions.
The company's shares gained 1.6% yesterday, thereby ending the trading session at $326.98.
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The senior notes carry an interest rate of 6.500% and are scheduled to mature on Jun 1, 2032. Notably, the senior notes are Zebra Technologies' unsecured obligations and will be guaranteed by certain of its domestic subsidiaries. The notes will be offered only to qualified institutional buyers per Rule 144A under the Securities Act of 1933 and to non-U.S. investors conforming to Regulation S.
Zebra Technologies expects to use the net proceeds from this offering to repay all of its outstanding debt under the revolving credit ...