NXP selling $500M in Sep. 2016 notes in debt refinancing move

|About: NXP Semiconductors (NXPI)|By:, SA News Editor

NXP (NXPI) will use the senior notes, which carry an interest rate of just 3.5%, to redeem 2018 senior notes carrying a 9.75% interest rate, and for "general corporate purposes." (PR)

Thanks to its P-E legacy, the chipmaker had $3.38B in debt at the end of Q2, offset by just $569M in cash. Q2 interest payments totaled $25M.