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Flextronics Announces Pricing Of $500 Million 4.625% Notes Due 2020 And $500 Million 5.0% Notes Due 2023

SINGAPORE, Feb. 12, 2013 /PRNewswire/ -- Flextronics (NASDAQ: FLEX) today announced that it has priced its offering of $500 million aggregate principal amount of 4.625% Notes due 2020 (the "2020 Notes") and $500 million aggregate principal amount of 5.0% Notes due 2023 (the "2023 Notes" and, together with the 2020 Notes, the "Notes").  The 2020 Notes will be issued at a price equal to 100% of their face value and the 2023 Notes will be issued at a price equal to 100% of their face value.  The 2020 Notes will mature on February 15, 2020 and the 2023 Notes will mature on February 15, 2023, unless repurchased or redeemed in accordance with their terms prior to such date.  The sale of the Notes is expected to close on February 20, 2013, subject to customary closing conditions. 

Flextronics intends to use the net proceeds from the offering, together with cash on hand, to repay $1 billion of outstanding borrowings under its term loan facility due 2014.

The Notes and the related guarantees are being offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.  The Notes and the related guarantees have not been, and will not be, registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes and the related guarantees or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Flextronics
Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to aerospace and defense, automotive, computing, consumer, industrial, infrastructure, medical, energy, and mobile OEMs. Flextronics helps customers design, build, ship and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and are vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market.  For more information, please visit www.flextronics.com or follow us on Twitter @flextronics.

Renee Brotherton

Kevin Kessel

Corporate Communications

Investor Relations

(408) 576-7189

(408) 576-7985

[email protected]

[email protected]

SOURCE Flextronics

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