A Faegre Drinker team led by corporate counsel Jake Mendoza represented German-headquartered Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) in its $1.3 billion U.S. private placement of notes. The proceeds of the transaction will be used to repay existing bank term loans related to Infineon’s April 2020 acquisition of U.S. company Cypress Semiconductor Corporation. Closing of the private placement transaction and receipt of the proceeds is subject to customary closing conditions.
A broad group of more than 40 institutional investors are participating in the transaction. The current transaction consists of four tranches with maturities of six, eight, ten and twelve years.
The Faegre Drinker team included Mendoza and senior attorney Kathy Petray.
“We’re grateful to the team at Faegre Drinker for the outstanding effort they put into making this transaction such a success,” said Stefanie Moesges, Corporate Legal Counsel at Infineon. “Their hands-on and collaborative approach helped guide our company through the many nuances involved in this significant cross-border transaction.”
Infineon is a world leader in semiconductor solutions. Founded in 1999, the German company is one of the ten largest semiconductor manufacturers worldwide and is a market leader in automotive and power semiconductors.