Synaptics retires $59.7 million of 0.75% convertibles at discount

By Jennifer Chiou

New York, Jan. 22 - Synaptics Inc. said it retired $59.7 million of its 0.75% convertible senior subordinated notes due 2024 at a 7% discount.

The San Jose, Calif.-based developer of interface services for the mobile computing, communications and entertainment industries said that the retirement took place during the second quarter of fiscal 2009 ended Dec. 31, resulting in a $3.6 million net gain.

On Dec. 7, 2004, the company issued $100 million of the securities with a $25 million greenshoe that was later exercised.

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