Summary by Futu AI
Micron Technology, Inc. has announced the offering of $1,000,000,000 aggregate principal amount of 5.30% senior notes due 2031. The notes will bear interest at an annual rate of 5.30%, with semi-annual payments starting July 15, 2024, and maturing on January 15, 2031. The company reserves the right to redeem the notes, in whole or in part, at a specified redemption price. The notes are unsecured and rank equally with Micron's other unsecured and unsubordinated indebtedness. The offering is managed by a consortium of banks, including Morgan Stanley, Credit Agricole CIB, and Scotiabank, among others. The proceeds are intended for general corporate purposes, including the repayment of existing indebtedness. The offering is expected to close on or about January 12, 2024.