Freescale Semiconductor announces exercise of over-allotment option

AUSTIN, USA: Freescale Semiconductor Holdings announced that the representatives of the underwriters for the Company’s initial public offering exercised their over−allotment option in part for 5,567,000 common shares, at a price per share of $18. The closing of the over-allotment option is expected to occur on June 14, 2011.

Freescale expects to use the $96 million in net proceeds to redeem $87 million principal amount of Freescale Semiconductor Inc.'s 10.125 percent Senior Secured Notes due 2018 and to pay related interest and premiums. The foregoing does not constitute a notice of redemption for or an obligation to issue a notice of redemption for the outstanding notes.

Citi, Deutsche Bank Securities, Barclays Capital, Credit Suisse and J.P. Morgan acted as joint book-running managers for the offering. Goldman, Sachs & Co., RBC Capital Markets, UBS Investment Bank, Sanford C. Bernstein, Gleacher & Company, Oppenheimer & Co., Pacific Crest Securities and Piper Jaffray acted as co-managers for the offering.