Asian Tech Press (Oct 21) -- The world's largest chipmaker TSMC announced on Wednesday that its Arizona subsidiary completed the pricing of offering $4.5 billion of senior unsecured corporate bonds, with closing expected on Oct. 25, and the funds will be used for general operating purposes.

According to TSMC's announcement, the bonds issued by TSMC Arizona Corporation (TSMC Arizona), a 100% owned subsidiary, unconditionally and irrevocably guaranteed by TSMC, will be registered and publicly issued, and underwritten.

TSMC noted that the pricing for the public offering of the corporate bonds are as follows:

1. US$1,250 million aggregate principal amount of 1.750% notes due October 25, 2026, at an issue price per note of 99.976%;

2. US$1,250 million aggregate principal amount of 2.500% notes due October 25, 2031, at an issue price per note of 99.561%;

3. US$1,000 million aggregate principal amount of 3.125% notes due October 25, 2041, at an issue price per note of 98.898%; and

4. US$1,000 million aggregate principal amount of 3.250% notes due October 25, 2051, at an issue price per note of 98.658%.

The corporate bonds due 2026 were issued at 99.976% of par value, the corporate bonds due 2031 were issued at 99.561% of par value, the corporate bonds due 2041 were issued at 98.898% of par value and the corporate bonds due 2051 were issued at 98.658% of par value.

The board of TSMC previously approved a guarantee for TSMC Arizona to raise unsecured U.S. dollar corporate bonds up to an amount not to exceed $8 billion. And it also approved up to $32.42 million to guarantee TSMC Arizona's operating requirements.