TranSwitch tender for 4½% convertibles oversubscribed at maximum price

New York, March 12 - TranSwitch Corp. said that its tender offer for its 4½% convertibles notes due 2005 was oversubscribed, based on preliminary information, and that it will pay the maximum price of $700 per $1,00 principal amount of the notes.

The Shelton, Conn. semiconductor company said that $205.959 million principal amount of the notes were validly tendered, according to the preliminary results.

The company had been offering to buy up to $200 million in a dutch auction, accepting offers of between $650 and $700 per $1,000 principal.

All purchases will be at the $700 level, TranSwitch said. The purchase price plus accrued interest through March 13 will be paid to the depositary, State Street Bank and Trust Co. on March 14.

Credit Suisse First Boston Corp. acted as dealer manager and D.F. King & Co., Inc. acted as information agent.

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