Conexant retires $106.7 million of its 4% convertible notes at 101.9

By Susanna Moon

Chicago, May 3 - Conexant Systems, Inc. said it retired $106.7 million principal amount of its outstanding 4% convertible subordinated notes due in 2026 at a purchase price of 101.9.

The company also paid plus accrued interest up to the payment date.

Conexant said it used cash on hand to fund the redemption, which was completed on May 3.

Last quarter, the company retired $105 million of the notes, which were putable in March 2011. About $20 million of the convertible notes remain outstanding.

Conexant is a fabless semiconductor company based in Newport Beach, Calif.

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