AMD starts cash tender offer for up to $1 billion 5.75% convertibles

By Jennifer Chiou

New York, Nov. 18 - Advanced Micro Devices, Inc. announced the launch of a cash tender offer for up to $1 billion of its 5.75% convertible senior notes due 2012.

AMD said it intends to finance the purchase of the notes tendered using the net proceeds from the closing of its private offering of $500 million of senior notes due 2017 and from the receipt of the $1.25 billion cash payment from Intel Corp. in connection with its recently announced settlement agreement with Intel.

The offer will end at midnight ET on Dec. 16.

The company said it will pay $990 for each $1,000 principal amount of notes plus accrued interest.

J.P. Morgan Securities Inc. (800 261-5767) and Citadel Securities LLC (877 660-1735) are the dealer managers. MacKenzie Partners, Inc. is the information agent (212 929-5500 or 800 322-2885).

Based in Sunnyvale, Calif., AMD is a technology company.

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