Vishay Intertechnology plans $250 million 30-year convertibles to yield 2.125%-2.625%, up 10%-15%

By Rebecca Melvin

New York, Nov. 3 - Vishay Intertechnology Inc. launched $250 million of 30-year convertible notes for pricing before the market open on Thursday that were talked to yield 2.125% to 2.625%, with an initial conversion premium of 10% to 15%, according to a market source.

There is a $25 million greenshoe.

J.P. Morgan is bookrunner for the Rule 144A offering.

The senior notes will be non-callable for 10 years, and then provisionally callable subject to a 150% price hurdle. There are no puts.

Proceeds are for share repurchases and general corporate purposes.

Malvern, Pa.-based Vishay makes semiconductors and electronic components.

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