NXP to borrow another $1 billion

It will offer $500 million senior notes due 2020 and $500 million senior notes due 2022.

$2 billion of the $11.8 billion purchase price for Freescale is payable in cash.

NXP has $1.4 billion in cash and is selling its RF power business for $1.88 billion.

NXP has $4 billion of debt and Freescale has $5.3 billion of debt.

Freescale has cash of $500 million.

See also: NXP agrees $1.8bn RF sale to fund Freescale merger

See also: Freescale trims debt