Power-One plans to price $75 million five-year convertibles

By Rebecca Melvin

New York, June 11 - Power-One Inc. plans to price $75 million of five-year senior secured convertible notes in a Rule 144A offering, according to a news release Wednesday.

Proceeds are expected to be used to repay in full its $50.2 million loan to PWER Bridge LLC, with the balance for working capital and general corporate purposes.

The offering was announced after the close of the markets, and further information could not be obtained by press time.

Camarillo, Calif.-based Power-One is a designer and maker of power conversion and power management products.

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