Mindspeed could buy back its 3.75% convertibles due 2009

By Susanna Moon

Chicago, Oct. 6 - Mindspeed Technologies, Inc. plans to repurchase its 3.75% convertible senior notes due 2009, according to an 8-K filing with the Securities and Exchange Commission.

Funding for the redemption would come from a three-year revolving credit line of up to $15 million with Silicon Valley Bank on Sept. 30.

Proceeds from the loan also will be used for working capital and general business requirements.

Interest on the loan will be Prime rate plus 25 basis points to a maximum rate of Prime rate plus 125 bps.

Newport Beach, Calif.-based Mindspeed produces semiconductor networking solutions for communications applications in enterprise, access, metropolitan and wide-area networks.

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