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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT
TO SECTION 13 OR 15(d) OF THE </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): September&nbsp;13, 2013 (September 11, 2013) </B></P>
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<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>FREESCALE SEMICONDUCTOR, LTD. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Charter) </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Bermuda</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>001-35184</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>98-0522138</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification Number)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>6501 William Cannon Drive West, Austin, Texas 78735 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of Principal Executive Offices, including Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(512) 895-2000 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NA </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former Name or
Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On September&nbsp;11, 2013, Freescale Semiconductor, Inc.
(&#147;Freescale&#148;), a wholly owned indirect subsidiary of Freescale Semiconductor, Ltd., entered into a new $800 million senior secured term loan facility pursuant to an amendment (the &#147;Amendment&#148;) to its existing senior secured
credit facilities (the &#147;Credit Facilities&#148;). The new term loan facility is guaranteed by the same guarantors of the existing term loans under the Credit Facilities and is secured by the same collateral securing the existing term loans
under the Credit Facilities. The new term loan facility is, in all material respects, subject to the same terms and conditions as Freescale&#146;s existing term loans under the Credit Facilities, except for such changes as have been agreed to by
Freescale and the lenders as set forth in the Amendment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The new term loan facility was priced at 99% of par and borrowings bear interest at a rate equal
to (i)&nbsp;for eurocurrency rate loans, LIBOR plus 3.75% (with LIBOR of not less than 1.25%) and (ii)&nbsp;for base rate loans, the applicable base rate plus 2.75%. The new term loan facility will mature on January&nbsp;15, 2021; provided, that the
maturity will be accelerated to March&nbsp;15, 2018, in the event that Freescale fails to maintain a specified leverage ratio for the September&nbsp;30, 2017, test period and the aggregate outstanding principal amount of Freescale&#146;s outstanding
senior secured notes maturing in 2018 exceeds $500 million as of March&nbsp;1, 2018. The new term loan amortizes quarterly commencing December&nbsp;31, 2013, at an annual rate of 1.0% of the initial loan commitments and may, subject to certain
conditions, be called by Freescale at 101% of the principal amount being prepaid within 12 months from the closing date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Credit Facilities contain a
provision that requires the weighted average yield of existing term loans under the Credit Facilities to be no less than 0.50% below the weighted average yield of certain new term loans issued under the Credit Facilities. As a result the existing
$349 million term loan facility due 2016 will bear interest at LIBOR plus 3.75% (with LIBOR not less than 1.00%). As of the closing of the new term loan facility this results in a weighted average yield of 4.75%, an increase of 0.50%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The purposes of the transaction and the application of the proceeds are to extend a portion of Freescale&#146;s debt maturities and reduce interest expense.
Freescale will use the proceeds from the transaction to redeem $221 million aggregate principal amount of its 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% senior secured notes due 2018 (the
&#147;10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes&#148;), which represents all outstanding 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>%
Notes, and $496 million aggregate principal amount of its 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% senior secured notes due 2018 (the &#147;9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB
STYLE="vertical-align:bottom">4</SUB>% Notes&#148; and together with the 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes, the &#147;Notes&#148;), and to pay related redemption premiums and fees.
Freescale will pay for a portion of its expenses with cash on hand. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The description of the new term loan facility contained in this Current Report on
Form 8-K is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is filed herewith as Exhibit 10.1, which is incorporated herein by reference. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;2.03</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information set forth under Item&nbsp;1.01 above is incorporated by reference into this Item&nbsp;2.03. </P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On September&nbsp;11, 2013, Freescale delivered (i)&nbsp;to the holders of its 10<SUP
STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes notice that it will redeem $221 million aggregate principal amount of the 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB
STYLE="vertical-align:bottom">8</SUB>% Notes, which represents all outstanding 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes and (ii)&nbsp;to the holders of its
9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Notes notice that it will redeem $496 million aggregate principal amount of the 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB
STYLE="vertical-align:bottom">4</SUB>% Notes. The redemption date for the Notes is October&nbsp;11, 2013 (the &#147;Redemption Date&#148;). The redemption of the Notes will be funded with the proceeds from the new term loan facility. The redemption
price for the 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes is 100% of the outstanding aggregate principal amount of the 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB
STYLE="vertical-align:bottom">8</SUB>% Notes being redeemed, plus the Applicable Premium (as defined in the Indenture dated February&nbsp;19, 2010 governing the
10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes) as of, and accrued and unpaid interest up to, but not </P>

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including, the Redemption Date. The redemption price for the 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Notes is 100% of the outstanding
aggregate principal amount of the 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Notes being redeemed, plus the Applicable Premium (as defined in the Indenture dated April&nbsp;13, 2010 governing the
9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Notes) as of, and accrued and unpaid interest up to, but not including, the Redemption Date. The Notes shall be redeemed in accordance with the
procedures of The Depository Trust Company. Because all the outstanding 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes are to be redeemed, the entire outstanding amount of 10<SUP
STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">8</SUB>% Notes held by each Holder, even if not a multiple of $1,000, shall be redeemed. The 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB
STYLE="vertical-align:bottom">4</SUB>% Notes shall be redeemed in amounts of $2,000 or whole multiples of $1,000 in excess thereof, and no 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Note of less
than $2,000 shall be redeemed. Upon surrender of a 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Note, a new
9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Note or 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Notes in principal amount equal to the unredeemed
portion of the original 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Note representing the same indebtedness to the extent not redeemed will be issued in the name of the holder of the 9<SUP
STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Notes upon cancellation of the original 9<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260<SUB STYLE="vertical-align:bottom">4</SUB>% Note. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cautionary Note Regarding Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Periodic Report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These
statements relate to the redemption of senior secured notes by Freescale and other statements that are not historical fact. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these
assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking
statements depending on a variety of factors. Some of these factors include market conditions and such other risk factors as may be discussed in Freescale Semiconductor, Ltd.&#146;s filings with the Securities and Exchange Commission. We undertake
no obligation to update any information contained in this Periodic Report on Form 8-K. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00px solid #000000; width:46.70pt; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;No.</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>10.1</TD>
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<TD VALIGN="top">Amendment Agreement dated as of September&nbsp;11, 2013, to the Third Amended and Restated Credit Agreement dated as of March&nbsp;1, 2013, among Freescale, the guarantors party thereto, the lenders party thereto and Citibank, N.A.,
as administrative agent for the lenders.</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">FREESCALE SEMICONDUCTOR, LTD.</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dathan C. Voelter</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name:</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Dathan C. Voelter</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title:</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Assistant Secretary</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: September&nbsp;13, 2013 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit&nbsp;Index </B></P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00px solid #000000; width:69.75pt; font-size:10pt; font-family:Times New Roman"><B>Exhibit&nbsp;Number</B></P></TD>
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<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>10.1</TD>
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<TD VALIGN="top">Amendment Agreement dated as of September&nbsp;11, 2013, to the Third Amended and Restated Credit Agreement dated as of March&nbsp;1, 2013, among Freescale, the guarantors party thereto, the lenders party thereto and Citibank, N.A.,
as administrative agent for the lenders.</TD></TR>
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8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): September 13, 2013 (September 11, 2013)
FREESCALE SEMICONDUCTOR, LTD.
(Exact Name of Registrant as Specified in Charter)
Bermuda
001-35184
98-0522138
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification Number)
6501 William Cannon Drive West, Austin, Texas 78735
(Address of Principal Executive Offices, including Zip Code)
(512) 895-2000
(Registrant's telephone number, including area code)
NA
(Former Name or
Former Address, if Changed Since Last Report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On September 11, 2013, Freescale Semiconductor, Inc.
("Freescale"), a wholly owned indirect subsidiary of Freescale Semiconductor, Ltd., entered into a new $800 million senior secured term loan facility pursuant to an amendment (the "Amendment") to its existing senior secured
credit facilities (the "Credit Facilities"). The new term loan facility is guaranteed by the same guarantors of the existing term loans under the Credit Facilities and is secured by the same collateral securing the existing term loans
under the Credit Facilities. The new term loan facility is, in all material respects, subject to the same terms and conditions as Freescale's existing term loans under the Credit Facilities, except for such changes as have been agreed to by
Freescale and the lenders as set forth in the Amendment.
The new term loan facility was priced at 99% of par and borrowings bear interest at a rate equal
to (i) for eurocurrency rate loans, LIBOR plus 3.75% (with LIBOR of not less than 1.25%) and (ii) for base rate loans, the applicable base rate plus 2.75%. The new term loan facility will mature on January 15, 2021; provided, that the
maturity will be accelerated to March 15, 2018, in the event that Freescale fails to maintain a specified leverage ratio for the September 30, 2017, test period and the aggregate outstanding principal amount of Freescale's outstanding
senior secured notes maturing in 2018 exceeds $500 million as of March 1, 2018. The new term loan amortizes quarterly commencing December 31, 2013, at an annual rate of 1.0% of the initial loan commitments and may, subject to certain
conditions, be called by Freescale at 101% of the principal amount being prepaid within 12 months from the closing date.
The Credit Facilities contain a
provision that requires the weighted average yield of existing term loans under the Credit Facilities to be no less than 0.50% below the weighted average yield of certain new term loans issued under the Credit Facilities. As a result the existing
$349 million term loan facility due 2016 will bear interest at LIBOR plus 3.75% (with LIBOR not less than 1.00%). As of the closing of the new term loan facility this results in a weighted average yield of 4.75%, an increase of 0.50%.
The purposes of the transaction and the application of the proceeds are to extend a portion of Freescale's debt maturities and reduce interest expense.
Freescale will use the proceeds from the transaction to redeem $221 million aggregate principal amount of its 10
1
⁄
8
% senior secured notes due 2018 (the
"10
1
⁄
8
% Notes"), which represents all outstanding 10
1
⁄
8
%
Notes, and $496 million aggregate principal amount of its 9
1
⁄
4
% senior secured notes due 2018 (the "9
1
⁄
4
% Notes" and together with the 10
1
⁄
8
% Notes, the "Notes"), and to pay related redemption premiums and fees.
Freescale will pay for a portion of its expenses with cash on hand.
The description of the new term loan facility contained in this Current Report on
Form 8-K is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is filed herewith as Exhibit 10.1, which is incorporated herein by reference.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 8.01
Other Events.
On September 11, 2013, Freescale delivered (i) to the holders of its 10
1
⁄
8
% Notes notice that it will redeem $221 million aggregate principal amount of the 10
1
⁄
8
% Notes, which represents all outstanding 10
1
⁄
8
% Notes and (ii) to the holders of its
9
1
⁄
4
% Notes notice that it will redeem $496 million aggregate principal amount of the 9
1
⁄
4
% Notes. The redemption date for the Notes is October 11, 2013 (the "Redemption Date"). The redemption of the Notes will be funded with the proceeds from the new term loan facility. The redemption
price for the 10
1
⁄
8
% Notes is 100% of the outstanding aggregate principal amount of the 10
1
⁄
8
% Notes being redeemed, plus the Applicable Premium (as defined in the Indenture dated February 19, 2010 governing the
10
1
⁄
8
% Notes) as of, and accrued and unpaid interest up to, but not
including, the Redemption Date. The redemption price for the 9
1
⁄
4
% Notes is 100% of the outstanding
aggregate principal amount of the 9
1
⁄
4
% Notes being redeemed, plus the Applicable Premium (as defined in the Indenture dated April 13, 2010 governing the
9
1
⁄
4
% Notes) as of, and accrued and unpaid interest up to, but not including, the Redemption Date. The Notes shall be redeemed in accordance with the
procedures of The Depository Trust Company. Because all the outstanding 10
1
⁄
8
% Notes are to be redeemed, the entire outstanding amount of 10
1
⁄
8
% Notes held by each Holder, even if not a multiple of $1,000, shall be redeemed. The 9
1
⁄
4
% Notes shall be redeemed in amounts of $2,000 or whole multiples of $1,000 in excess thereof, and no 9
1
⁄
4
% Note of less
than $2,000 shall be redeemed. Upon surrender of a 9
1
⁄
4
% Note, a new
9
1
⁄
4
% Note or 9
1
⁄
4
% Notes in principal amount equal to the unredeemed
portion of the original 9
1
⁄
4
% Note representing the same indebtedness to the extent not redeemed will be issued in the name of the holder of the 9
1
⁄
4
% Notes upon cancellation of the original 9
1
⁄
4
% Note.
Cautionary Note Regarding Forward-Looking Statements
This Periodic Report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These
statements relate to the redemption of senior secured notes by Freescale and other statements that are not historical fact. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these
assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking
statements depending on a variety of factors. Some of these factors include market conditions and such other risk factors as may be discussed in Freescale Semiconductor, Ltd.'s filings with the Securities and Exchange Commission. We undertake
no obligation to update any information contained in this Periodic Report on Form 8-K.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit No.
Description
10.1
Amendment Agreement dated as of September 11, 2013, to the Third Amended and Restated Credit Agreement dated as of March 1, 2013, among Freescale, the guarantors party thereto, the lenders party thereto and Citibank, N.A.,
as administrative agent for the lenders.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
FREESCALE SEMICONDUCTOR, LTD.
By:
/s/ Dathan C. Voelter
Name:
Dathan C. Voelter
Title:
Assistant Secretary
Date: September 13, 2013
Exhibit Index
Exhibit Number
Description
10.1
Amendment Agreement dated as of September 11, 2013, to the Third Amended and Restated Credit Agreement dated as of March 1, 2013, among Freescale, the guarantors party thereto, the lenders party thereto and Citibank, N.A.,
as administrative agent for the lenders.