The offering prospectus filed showed Citi and Deutsche Bank Securities as the joint book-runners and co-managers are listed as Barclays Capital, Credit Suisse, and JPMorgan.
Freescale has been public before. The company is a global leader in embedded processing semiconductors and solutions and derived approximately 80% of net sales from products with a market position of #1 or #2 in 2010 with over 30% of the embedded processor market. The company holds nearly 11,500 issued and pending patents and it serves more than 18,000 customers through a direct sales force and distribution partners.
Freescale GP is owned equally by the funds tied to The Blackstone Group LP (NYSE: BX), the Carlyle Funds, the Permira Funds and the TPG Funds (Texas Pacific Group).
Its 2010 sales were $4.458 billion and its net loss was -$1.053 billion after a loss from debt retirement and other expenses. The loss from operations was -$61 million. The company’s adjusted EBITDA was $1.147 billion in 2010. As of December 31, 2010, its cash and cash equivalents was $1.043 billion and its long-term debt and capital lease obligations were listed as $7.584 billion.
JON C. OGG
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