AMD wraps oversubscribed tender offer for $800 million 6% convertibles

By Susanna Moon

Chicago, Aug. 23 - Advanced Micro Devices, Inc. said investors tendered $1,528,656,000 principal amount of its 6% convertible senior notes due 2015 in the cash tender offer for up to $800 million of the convertibles.

The offer expired at midnight ET on Aug. 20. It began on July 26.

AMD paid $815 million for the convertibles, including accrued interest to the payment date. The purchase price was par.

Because investors tendered more than the maximum tender amount, the company accepted the convertibles for purchase on a pro rata basis.

After the purchase, $780.13 million principal amount of the convertibles remains outstanding.

AMD previously said it planned to finance the tender offer with the proceeds from its $500 million private offering of senior notes, along with existing cash.

J.P. Morgan Securities Inc. (800 261-5767) and Citigroup Global Markets Inc. (800 558-3745) were the dealer managers for the tender offer.

AMD is a Sunnyvale, Calif.-based maker of computer processor chips.

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