Motorola to Redeem $1.4 Billion in Notes
Motorola to Redeem $1.4 Billion in NotesMotorola to Redeem $1.4 Billion in Notes
By Troy Wolverton
TheStreet.com Staff Reporter
7/26/2004 8:24 PM EDT
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Motorola (MOT:Nasdaq - commentary - research) plans to pay down some of its debt to the tune of $1.7 billion.
The chip and communications equipment maker announced on Monday that it plans to repurchase two sets of notes. The company said it plans to redeem one set, which has a principal amount of $1.4 billion, and has issued a tender offer for the second, which has a principal amount of $300 million.
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