backtop


Print

AMD to issue $2.2 billion USD in Convertible Senior Notes

AMD is a company that has been strapped for cash lately. In late April, the Sunnyvale, CA based company announced that it would offer Convertible Senior Notes to raise around $2.2 billion USD. AMD set a conversion point of $42.12 USD per share at a time when its stock price was $14 USD.

The company's efforts to raise more cash have intensified even further. Yesterday, AMD priced an additional $1.5 billion USD in Convertible Senior Notes at a conversion point of $20.13 USD per share. The conversion price represents a 50 percent premium over AMD's $13.42 USD stock price at close of day on August 8.

AMD plans to use the funds received from the offering to pay an outstanding balance on a loan from Morgan Stanley Senior Funding in late 2006. The company borrowed around $2.5 billion USD in loans and $1.2 billion USD in common stock to fund the $5.4 billion purchase of ATI Technologies. The company also reported a net loss of $600 million USD last quarter while archrival Intel reported net income of $1.3 billion USD.





"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken
Related Articles
AMD Reports Q2 Revenue
July 19, 2007, 5:28 PM
AMD's Large Debt Mounting Up Fast
April 29, 2007, 1:54 PM



Latest Headlines
This Can / May Satisfy the Movie lovers
February 19, 2017, 9:52 AM
AMD Offers
February 17, 2017, 6:01 AM
Selective Desktop Computers
February 10, 2017, 6:25 AM



Most Popular ArticlesHow Apple watch Series 2 differ from the S1
February 18, 2017, 5:37 AM
AMD Offers
February 17, 2017, 6:01 AM
Samsung Notebook 9 vs Acer Aspire S 13
February 17, 2017, 7:23 AM
Seagate FireCuda – 2TB of Fast Gaming Solid State Hybrid Drive Storage
February 6, 2017, 8:24 AM
Comparison: NuVision vs Kindle Fire HD
February 18, 2017, 6:25 AM







botimage
Copyright 2017 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki