Zebra Technologies Corporation announced the pricing of its private offering of $500 million in aggregate principal amount of 6.500% senior unsecured notes due 2032 (the ?Notes?). The Notes will mature on June 1, 2032, unless earlier repurchased or redeemed in accordance with their terms. The Notes offering is expected to close on May 28, 2024, subject to customary closing conditions. Zebra intends to use the net proceeds from the Notes offering to repay all the outstanding debt under its revolving credit facility, which was $172 million as of March 30, 2024.

Zebra intends to use the remaining net proceeds for general corporate purposes, including to replenish cash on hand following the repayment of its receivables financing facility that matured on May 13, 2024. The Notes will be senior unsecured obligations of Zebra and will be guaranteed by certain Zebra domestic subsidiaries. The Notes and related guarantees have not been registered under the Securities Act of 1933, as amended (?Securities Act?), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons in accordance with Regulation S under the Securities Act.