Altera Corporation Closes $1 Billion Senior Notes Offering
SAN JOSE, Calif., Nov. 1, 2013 /PRNewswire/ -- Altera Corporation (NASDAQ: ALTR) today announced the closing of its previously announced offering of $600 million aggregate principal amount of its 2.500% Senior Notes due 2018 and $400 million aggregate principal amount of its 4.100% Senior Notes due 2023 ("senior notes") under a shelf registration statement on file with the Securities and Exchange Commission.
Separately but contemporaneous with the above offering of senior notes, Altera used foreign cash to purchase intermediate term Treasury notes. The company intends these Treasury securities to represent an economic hedge that will reduce the net cost of the senior notes to the company.
Altera® programmable solutions enable designers of electronic systems to rapidly and cost effectively innovate, differentiate and win in their markets. Altera offers FPGAs, SoCs, CPLDs, ASICs and complementary technologies, such as power management, to provide high-value solutions to customers worldwide. Follow Altera via Facebook, Twitter, LinkedIn, Google+ and RSS, and subscribe to product update emails and newsletters. Visit www.altera.com.
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This press release contains forward-looking statements within the meaning of the federal securities laws. These statements include, but are not limited to, Altera's intended use of any purchased Treasury securities and the net cost of Altera's senior notes. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, current global economic conditions. Additional risks and uncertainties relating to the offering, Altera and its business can be found under the heading "Risk Factors" in Altera's Annual Report on Form 10-K for the year ended December 31, 2012, in the preliminary prospectus supplement relating to the offering and in the prospectus supplement relating to the offering to be filed with the Securities and Exchange Commission. Altera does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.
SOURCE Altera Corporation