Lam Research $2.4 billion notes issue

Overview:

• Lam Research Corporate, a supplier of wafer fabrication equipment and services to the semiconductor industry, has issued $2.4 billion of notes.
• This included the offer of $800 million 2.8% senior notes due 2021, $600 million 3.45% senior notes due 2023 and $1 billion 3.9% senior notes due 2026.
• Goldman Sachs, Barclays Capital, Citigroup Global Markets and JP Morgan Securities acted as joint book-running managers.
• The company used the proceeds from this transaction to finance its acquisition of KLA-Tencor Corporation.

Rani Mehta - Journalist