Advanced Micro offer to buy back debt closes, with $1.35 billion turned in
By APThursday, December 17, 2009
Advanced Micro offer to buy back debt closes
SUNNYVALE, Calif. — Advanced Micro Devices Inc. on Thursday said its offer to buy back certain senior debt due 2012 has closed.
The chip maker said $1.35 billion worth of convertible senior notes carrying an interest rate of 5.75 percent were turned in by debt holders.
Advanced Micro said it’s buying back $1.01 billion of the notes tendered, including interest. The company offered to pay $990 for each $1,000 of notes, plus interest.
After Advanced Micro’s tender offer, about $485 million worth of the 2012 notes are left.
J.P. Morgan Securities Inc. and Citadel Securities LLC were the dealer managers of the offer.
Shares of Advanced Micro, based in Sunnyvale, Calif., fell 10 cents to $9.05 in afternoon trading.
