Micron Technology Prices Offering Of $1 Bln 5.25% Senior Notes Due 2023

(RTTNews) - Micron Technology, Inc., (MU) announced the pricing of an offering of $1 billion aggregate principal amount of its 5.25 percent senior notes due 2023. The notes are being offered to qualified institutional buyers. The sale of the notes is expected to close on February 3.

Interest on the notes will accrue at a rate of 5.25 percent per year, and will be payable in cash semi-annually in arrears, beginning on August 1. The notes will mature on August 1, 2023, unless earlier repurchased or redeemed.

Holders may require Micron to repurchase their notes upon the occurrence of certain change of control events at a repurchase price equal to 101 percent of the principal amount thereof plus accrued and unpaid interest, if any.