RF Micro Devices considers repurchasing convertibles

By Angela McDaniels

Tacoma, Wash., Jan. 27 - RF Micro Devices, Inc. said it may use a portion of its available cash to repurchase its outstanding convertible notes on an opportunistic basis during the fiscal fourth quarter ending March 28.

Cash and cash equivalents totaled $145 million on Dec. 27.

RF Micro repurchased about $33 million of its convertibles during the fiscal third quarter ended Dec. 27, according to its earnings release.

The company has three series of convertibles outstanding: 0.75% convertible subordinated notes due 2012, 1% convertible subordinated notes due 2014 and 1.5% convertible subordinated notes due 2010.

RF Micro designs and manufactures high-performance radio systems and solutions for mobile communications. The company is based in Greensboro, N.C.

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