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Applied Materials Prices $1.75 Billion of Senior Unsecured Notes

Intends to use the net proceeds to fund its planned merger with Varian

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Applied Materials, Inc. announced the pricing of senior unsecured notes in an aggregate principal amount of $1.75 billion. The notes consist of the following tranches:

• $400 million of 2.65% senior unsecured notes due 2016
• $750 million of 4.30% senior unsecured notes due 2021
• $600 million of 5.85% senior unsecured notes due 2041

Applied intends to use the net proceeds from this offering, together with available cash and the proceeds from borrowings under its revolving credit facility or other short-term debt, to fund its planned merger with Varian Semiconductor Equipment Associates, Inc. (Varian) under an Agreement and Plan of Merger dated May 3, 2011, and to pay certain costs associated with the merger.

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