Cadence Design to redeem some of its 1.375%, 1.5% convertible notes

By Devika Patel

Knoxville, Tenn., June 9 - Cadence Design Systems, Inc. said it will use up to $200 million of the proceeds from a $300 million offering of cash convertible senior notes to repurchase some of its 1.375% convertible senior notes due Dec. 15, 2011 and its 1.5% convertible senior notes due Dec. 15, 2013.

Cadence Design is a San Jose, Calif.-based computer software and hardware developer.

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