NXP intends to use the net proceeds from the offering of the 2027 Notes to redeem the USD 900,000,000 principal amount of the outstanding dollar-denominated 4.625% senior unsecured notes due 2023, including all premiums, accrued interest and costs and expenses related to this notes redemption. Any remaining net proceeds of the 2027 Notes will be temporarily held as cash and other short term securities or used for general corporate purposes such as capital expenditures or short-term debt repayment. The net proceeds of the 2033 Notes will be used for the financing, in whole or in part, of one or more eligible green projects, which are defined as investments in (A) research and development for NXP's "green chip" resonant solutions, (ii) battery control and management for electric and hybrid cars, (iii) Advanced Driver Assistance Systems, (iv) mobile device "beam steering", (v) edge processing portfolio and (vi) smart building technologies, and (B) energy efficiency measures at NXP's manufacturing and non-manufacturing facilities.