LINCOLNSHIRE, Ill.,
Sept. 16, 2014 /PRNewswire/
-- Zebra Technologies Corporation (NASDAQ: ZBRA) today
announced that it has begun to syndicate a $2 billion Senior
Secured Term Loan (the "Term Loan"). Consummation of the Term Loan
and actual terms of the Term Loan, including principal amount,
interest rate and maturity, will depend on market and other
conditions.
Proceeds from the Term Loan, together with cash on hand and
proceeds from additional financing in the form of senior unsecured
debt securities in an aggregate principal amount of $1.25 billion, will be used to fund the
$3.45 billion cash acquisition
of the Enterprise business of Motorola Solutions, Inc. (NYSE: MSI),
as well as to pay related transaction fees and expenses. The
acquisition, which was announced on April
15, 2014, is expected to be completed by the end of
2014.
Morgan Stanley Senior Funding, Inc., J.P. Morgan Securities LLC
and Deutsche Bank Securities Inc. will act as joint lead arrangers
for the Term Loan. Morgan Stanley Senior Funding, Inc. and J.P.
Morgan Securities LLC will act as joint book runners.
The debt securities will not be registered under the Securities
Act of 1933, as amended ("Securities Act"), or the securities laws
of any other jurisdiction, and will not be offered or sold in
the United States or to U.S.
persons absent registration or an applicable exemption from the
registration requirements. The debt securities offering will be
made only to qualified institutional buyers in accordance with Rule
144A under the Securities Act and to non-U.S. persons in accordance
with Regulation S under the Securities Act.
This press release is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any debt securities or any other securities. Any debt
securities offering is not being made to any person in any
jurisdiction in which the offer, solicitation or sale is
unlawful.
Forward-looking Statements
This press release contains
forward-looking statements within the meaning of federal securities
laws. Statements related to, among other things, the consummation
of the Term Loan, the proposed offering of any additional debt
securities, potential changes in market conditions and any
expectation regarding the closing of the acquisition constitute
forward-looking statements. For a description of factors that may
cause Zebra's actual results, performance or expectations to differ
from any forward-looking statements, please review the information
under the heading "Risk Factors" included in Item 1A of Zebra's
2013 Annual Report on Form 10-K and other documents of
Zebra's on file with or furnished to the Securities and Exchange
Commission. Any forward-looking statements made in this press
release are qualified by these cautionary statements, and there can
be no assurance that the actual results or developments anticipated
by Zebra will be realized or, even if substantially realized, that
they will have the expected consequences to, or effects on, Zebra
or its business or operations. Except as required by law, Zebra
undertakes no obligation to update publicly or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise. We caution you that actual
outcomes and results may differ materially from what is expressed,
implied or forecasted by Zebra's forward-looking statements.
About Zebra Technologies
A global leader in enterprise
asset intelligence, Zebra Technologies Corporation (NASDAQ: ZBRA)
offers solutions that give a virtual voice to an organization's
assets, people and transactions, enabling organizations to unlock
greater business value. The company's extensive portfolio of
innovative and reliable marking and printing products, RFID and
real-time location solutions, illuminates mission-critical
information that help customers take smarter business actions. For
more information about Zebra's solutions, visit
http://www.zebra.com.
Contact:
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Investors:
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Media:
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Douglas A. Fox,
CFA
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Robb
Kristopher
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Vice President,
Investor Relations
and
Treasurer
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Director, Corporate
Communications
and Public Relations
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+ 1 847 793 6735
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+ 1 847 793 5514
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dfox@zebra.com
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rkristopher@zebra.com
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SOURCE Zebra Technologies Corporation