Zebra Technologies Prices $1.05 Bln Private Senior Notes Offering

(RTTNews) - Zebra Technologies Corp. (ZBRA) said Tuesday that it has priced its offering of $1.05 billion in aggregate principal amount of 7 1/4% senior unsecured notes due 2022 in a private offering.

The Notes were priced at 100% of par. The sale of the Notes is expected to be completed on October 1.

Zebra plans to use the net proceeds from the Notes offering, together with cash on hand and proceeds from Zebra's previously announced senior secured term loan, upsized to $2.2 billion, to fund the $3.45 billion cash acquisition of the Enterprise business of Motorola Solutions, Inc. (MSI), as well as to pay related transaction fees and expenses.

The proceeds from the private offering of the Notes will be placed into escrow until the closing of the acquisition.