Applied Materials Announces Issuance Of $400 Million in Senior Notes.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Oct. 10, 1997--Applied Materials, Inc. announced today that it has agreed to sell 10-year Senior Notes due October 15, 2007 in an aggregate principal amount of $200 million and 20-year Senior Notes due October 15, 2017 in an aggregate principal amount of $200 million. The 10-year Senior Notes have a coupon rate Coupon rate In bonds, notes, or other fixed income securities, the stated percentage rate of interest, usually paid twice a year. of 6.75 percent and were priced to the public at 99.935 percent. The 20-year Senior Notes have a coupon rate of 7.125 percent and were priced to the public at 99.316 percent. Both issues are rated "A3" by Moody's Investor Service, Inc. and "BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. +" by Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index Corp. These securities were offered under a shelf registration statement declared effective by the Securities and Exchange Commission on October 6, 1997. The underwriting was co-managed by Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean Witter Incorporated, Lehman Brothers Inc., J. P. Morgan Securities, Inc. and Goldman, Sachs & Co. Proceeds from the offering will be used for general corporate purposes, including working capital requirements Capital requirementsFinancing required for the operation of a business, composed of long-term and working capital plus fixed assets. and the expansion of facilities. "We are extremely pleased with the strong market response to this offering of debt securities," said Nancy H. Handel, Applied Materials' Vice President Global Finance and Treasurer. "This milestone is further recognition of Applied Materials' industry leadership position and financial strength. The terms and structure of this transaction demonstrate the confidence of the capital markets in supporting our global opportunities." Applied Materials, Inc. is a Fortune 500 global growth company and the world's largest supplier of wafer fabrication systems and services to the global semiconductor industry. Applied Materials is traded on the Nasdaq National Market under the symbol, "AMAT AMAT Applied Materials (stock symbol) AMAT Average Memory Access Time AMAT Automatic Message Accounting Transmitter AMAT Anti-Materiel (bomb or mine) AMAT Ageing Management Assessment Team ." Applied Materials' web site is http://www.AppliedMaterials.com . CONTACT: Applied Materials, Inc. Shannon Fryhoff, 408/986-7229 (editorial/media) Carolyn Schwartz,408/748-5227 (investment community) |
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