Bond Factsheet
MU 4.185% 15Feb2027 Corp (USD)
Micron Technology Inc
Indicative
Full Lot
Bid Price 99.909
Change in Bid Price 0.018
Bid Yield (%) 4.238 %
Change in Bid Yield 0.012
Ask Price 100.063
Change in Ask Price 0.044
Ask Yield (%) 4.141 %
Change in Ask Yield 0.029
Indicative price as of 28 May 2025, 12:00am
Bond Issuer
Micron Technology Inc
Guarantor
-
Announcement Date
10 Jul 2019
Issue Date
12 Jul 2019
Maturity Date
15 Feb 2027
Years to Maturity / Next Call
0.359 / 0.189
Modified Duration
-
Issue / Reoffer Price
99.995
Issue / Reoffer Yield
4.185
Coupon Type
Fixed
Annual Coupon Rate
4.185
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
US595112BP79
CUSIP
595112BP7
Bond Currency
USD
Total Issue Size
900,000,000
Min. Investment Quantity (Nominal)
USD 2,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Information Technology
Bond Sub Sector
Semiconductors and Semiconductor Equipment
Issuer Credit Rating (S&P/ Fitch)
***/ BBB
Bond Credit Rating (S&P/ Fitch)
***/ BBB
Shariah Compliant
No
Exchange Listed
Others
Issuer Call
“Par Call Date” means (i) December 15, 2026 with respect to any 2027notes (two months prior to the maturity date of the 2027 notes).
Make Whole Call
(i) 100% of the principal amount of the notes of that series to be redeemed and
(ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if the notes of such series matured on the applicable Par Call Date (exclusive of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus 35 basis points for the 2027 notes, plus, in each case, accrued and unpaid interest, if any, on the amount being redeemed to, but excluding, the date of redemption.
“Par Call Date” means (i) December 15, 2026 with respect to any 2027notes (two months prior to the maturity date of the 2027 notes).
Change Control Put
Not later than 60 days following a Change of Control Triggering Event, unless the Company has exercised its right to redeem all of the notes of a series as described under "—Optional Redemption," the Company will make an Offer to Purchase all of the outstanding notes of such series at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the date of purchase.
"Change of Control" means:
(1) any "person" or "group" (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), otherthan the Company, its Subsidiaries or any employee benefi t plan of the Company or its Subsidiaries, fi les aSchedule 13D or Schedule TO (or any successor schedule, form or report) pursuant to the Exchange Actdisclosing that such person has become the direct or indirect "benefi cial owner" (as such term is used inRules 13d-3 and 13d-5 under the Exchange Act) of more than 50% of the Voting Stock of the Company, unlesssuch benefi cial ownership (a) arises solely as a result of a revocable proxy delivered in response to a proxy orconsent solicitation made pursuant to the applicable rules and regulations under the Exchange Act, and (b) is notalso then reportable on Schedule 13D (or any successor schedule) under the Exchange Act, except that for thepurpose of this clause (1) a person will be deemed to have benefi cial ownership of all shares that such personhas the right to acquire irrespective of whether that right is exercisable immediately or only after the passage oftime); provided, however, that a transaction will not be deemed to involve a Change of Control under thisclause (1) if (a) the Company becomes a direct or indirect wholly owned subsidiary of a holding company, and(b)(i) the direct or indirect holders of the Voting Stock of such holding company immediately following thattransaction are substantially the same as the holders of the Company's Voting Stock immediately prior to thattransaction or (ii) immediately following that transaction no "person" or "group"(other than a holding companysatisfying the requirements of this sentence) is the benefi cial owner, directly or indirectly, of more than 50% ofthe Voting Stock of such holding company; or
(2) the Company sells, conveys, transfers or leases (either in one transaction or a series of relatedtransactions) all or substantially all assets of the Company and its Subsidiaries taken as a whole to, or mergesor consolidates with, a Person (other than the Company or any of its Subsidiaries), other than any such merger orconsolidation where the shares of the Company's Voting Stock outstanding immediately prior to such transactionconstitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person orparent entity thereof immediately after giving eff ect to such transaction; or
(3) the adoption of a plan relating to the Company's liquidation or dissolution.
"Change of Control Triggering Event" means the occurrence of both a Change of Control and a Below InvestmentGrade Rating Event.
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