Atmel pays $144.3 million in cash for put on zero-coupon convertibles

By Jennifer Chiou

New York, May 24 - Atmel Corp. said it paid $144.3 million in the put on its zero-coupon convertible notes due 2021.

The securities were putable on May 23.

If all the convertibles had been put back to the company, it would have paid $145 million in cash, leaving its balance of cash and equivalents at $300 million at June 30.

The company added that $0.9 million of the securities remains outstanding.

Atmel is a San Jose, Calif., maker of semiconductors.

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