By Ronda Fears
Nashville, June 17- Lattice Semiconductor Corp. sold $200 million of seven-year convertibles at par to yield 0% with a with a 38% to 43% initial conversion premium in the Rule 144A market via lead manager Goldman Sachs & Co.
The issue sold at the cheap end of guidance for a 38% to 43% initial conversion premium.
Lattice said proceeds would be used to redeem its existing 4.75% convertible due 2006, with an estimated $172.3 million outstanding, for working capital and other general corporate purposes.
Terms of the deal are:
Issuer: Lattice Semiconductor Corp.
| Issue: | Convertible subordinated notes
|
| Lead manager: | | Goldman Sachs
|
| Amount | $200 million
|
| Greenshoe: | $30 million
|
| Maturity: | July 1, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 0%
|
| Conversion premium: | 38%
|
| Conversion price: | $12.06
|
| Conversion ratio: | 82.9187
|
| Call: | Non-callable for 5 years
|
| Contingent conversion: | 110%
|
| Price talk: | 0%, up 38-43%
|
| Pricing date: | June 16 after close
|
| Settlement: | June 20
|
| Distribution: | Rule 144A
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
