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KLA-Tencor to raise $1.18B debt

KLA-Tencor Corp. will issue $800 million in 4.10% senior notes due 2029 and $400 million in 5.00% senior notes due 2049.

KLA expects net proceeds of approximately $1.18 billion from the offering, which it will use to partially refinance existing debt and repurchase shares, as well as for general corporate purposes.

The offering is expected to close March 20, subject to customary closing conditions.

J.P. Morgan Securities LLC is acting as the sole active book-running manager of the offering.