AMD announces placing of new securities by more than a billion dollars
This week, AMD announced its intention to sell naive ordinary shares in the amount of about $ 600 million and priority convertible notes (a kind of bonds) in the amount of $ 450 million, designed for repayment in 2026. In addition, the manufacturer is going to offer a guarantee of the offering of these securities the opportunity for 30 days to purchase the said shares amounting to $ 90 million and notes amounting to 67.5 million dollars.
Net funds in the amount of 1.02 billion dollars, resulting from the placement of new securities in AMD are planning to send the payment earlier made borrowings and repurchase more outstanding senior bonds. The residual balance of AMD may (but need not) direct the repayment of senior bonds with a yield of 7.75% and maturing in 2020. Finally, if and after that AMD will remain the funds, they will be directed on capital investments and other purposes.