Conexant Systems to retire $61.4 million floaters at 101 in December

By Susanna Moon

Chicago, Nov. 18 - Conexant Systems, Inc. said it will redeem the remaining $61.4 million of outstanding floating-rate senior secured notes due in November 2010.

The company will redeem the notes on Dec. 18 at 101% of par plus accrued interest to the redemption date in cash.

The Bank of New York Trust Co., NA is the trustee.

The company said it plans to use cash on hand to fund the redemption.

"The redemption of the final portion of our senior secured notes represents the achievement of another milestone for our company," said Scott Mercer, Conexant's chairman and chief executive officer.

"Moving forward, we plan to continue working to strengthen our capital structure and improve our financial performance.

Conexant is a fabless semiconductor company based in Newport Beach, Calif.

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