New Issue: Anadigics $75 million convertibles at 5.0% yield, up 25%

By Ronda Fears

Nashville, Tenn., Nov. 21 - Anadigics Inc. sold $75 million of five-year convertible senior unsecured notes at par to yield 5.0% with a 25% initial conversion premium. Goldman Sachs & Co. was lead manager of the Rule 144A deal, which sold at the aggressive end of price talk that put the yield between 5.0% and 5.5% and the initial conversion premium in a range of 21% to 25%.

Warren, N.J.-based Anadigics, a supplier of wireless and broadband communications solutions, plans to use proceeds for working capital, strategic acquisitions and general corporate purposes.

Terms of the new deal are:

Issuer: Anadigics Inc.

Amount: $75 million

Greenshoe: $25 million

Lead Manager: Goldman Sachs

Maturity Date: Nov. 15, 2006

Coupon: 5.0%

Issue Price: par

Yield: 5.0%

Conversion Premium: 25%

Conversion Price: $21.00

Conversion Ratio: 47.619

Call: non-callable for three years

Settlement Date: Nov. 27

End

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