On January 12, 2024, Micron Technology, Inc. completed a public offering of $1 billion in 5.30% senior notes due in 2031. The offering was made under a registration statement and prospectus filed with the SEC, along with a preliminary and final prospectus supplement and a free writing prospectus, all dated January 10, 2024. The notes were issued under an indenture agreement with U.S. Bank Trust Company, National Association, as trustee. The notes will mature on January 15, 2031, with interest payable semi-annually starting July 15, 2024. Micron has the option to redeem the notes before the Par Call Date, which is November 15, 2030, under certain conditions. If a change of control triggering event occurs, Micron must offer to repurchase the notes at 101% of the principal amount. The net proceeds from...Show More

On January 12, 2024, Micron Technology, Inc. completed a public offering of $1 billion in 5.30% senior notes due in 2031. The offering was made under a registration statement and prospectus filed with the SEC, along with a preliminary and final prospectus supplement and a free writing prospectus, all dated January 10, 2024. The notes were issued under an indenture agreement with U.S. Bank Trust Company, National Association, as trustee. The notes will mature on January 15, 2031, with interest payable semi-annually starting July 15, 2024. Micron has the option to redeem the notes before the Par Call Date, which is November 15, 2030, under certain conditions. If a change of control triggering event occurs, Micron must offer to repurchase the notes at 101% of the principal amount. The net proceeds from the sale will be used to repay borrowings under Micron's senior term loan due October 2024 and for general corporate purposes. The terms of the indenture include affirmative and negative covenants, with limitations and exceptions, and outline events of default which could accelerate obligations. Legal counsel Wilson Sonsini Goodrich & Rosati provided an opinion on the legality of the notes, filed with the SEC as part of the report.