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by Chris Reich
Jan 26, 2026 2:46 PM ET
Tyco Electronics Group S.A. (TEL) exp A3/A-/A- (s/s/s) US$750m SEC registered 2-part sr notes (tap of TEL 4.50% 2/9/31 and new 10y due 2/9/36). MWC (+15 on tap) then 1mo par call on tap (1/9/31) and 3mos on 10y (11/9/35). 101 CoC. BNP (B&D on 10y)/DB/Citi/GS (B&D on tap) joint active books. Guarantors: TE Connectivity plc and TE Connectivity Switzerland Ltd. Denoms: 2,000 x 1,000. Sales into Canada: Yes, via exemption. First Pay: 8/9/26. Day count: 30/360. UOP: General corporate purposes, including the repayment of outstanding debt, including the 3.7% 2026 notes and 4.500% 2026 notes. Pricing 1/26. Settle 2/9 (T+10). Cusip 2031 tap: 902133BC0, 10y: 902133BF3. ISIN: 2031 tap: US902133BC02, 10y: US902133BF33.
IPTs: 2031 tap T+70 area, 10y T+95 area.
GUIDANCE: 2031 tap T+48#, new 10y T+70#.
LAUNCHED: $200m tap of 4.50% 2/9/31 at T+48, $550m 10y at T+70.
PRICED:
$200m tap of 4.50% 2/9/31 at 100.907 4.294% T+48. MW+15. New outstanding $650m.
$550m 4.875% 2/9/36 99.718 4.911% T+70. MW+15.