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LSI Logic buys back $135 million convertibles
New York, Nov. 13 - LSI Logic Corp. said it bought back $135 million of its convertible subordinated notes.
The Milpitas, Calif. semiconductor company said it bought back $87.4 million of its 4% convertible subordinated notes due 2005 during the third quarter, resulting in a pre-tax gain of $11.6 million, according to a filing with the Securities and Exchange Commission.
It bought back a further $47.6 million of convertible subordinated notes - it did not specify which series - in October, resulting in a pre-tax gain of $2.7 million.
LSI Logic said it may make further repurchases of its convertibles.
As of Sept. 30, LSI Logic had $490 million of its 4% convertibles due 2006, $412.6 million of its 4% convertibles due 2005 and $344.935 million of its 4¼% convertibles due 2004.
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