FINANCE | $1.3 billion private placement for Infineon

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Infineon has signed a $1.3 billion private placement. Proceeds from the transaction will be used to repay existing bank loans related to theacquisition of Cypress Semiconductor Corporation....

"Infineon has accepted this private placement in the United States on very attractive terms," said Sven Schneider, chief financial officer of Infineon. "The transaction's strong oversubscription is clear evidence of the capital markets' confidence in Infineon's economic prospects. It underscores the credibility Infineon has established in the capital markets by providing us with full access to all relevant funding sources."

A broad group of more than 40 institutional investors, including nearly all of the investors in Infineon's exceptional 2016 U.S. private placement, is participating in the transaction. The current transaction consists of four tranches with maturities of six, eight, ten and twelve years. Closing of the transaction and receipt of proceeds are subject to customary closing conditions. Bank of America Securities and Mizuho acted as Joint Lead Agents in the transaction.

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