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.





"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997
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
ASUS’ latest curved gaming monitor
August 18, 2017, 6:10 AM
MSI GL62M 7REX Gaming Laptop
August 14, 2017, 6:00 AM
SoundCloud survives the budge scare
August 12, 2017, 6:38 AM
Dell XPS 27
August 9, 2017, 6:00 AM
ASRock B250 Pro4
August 7, 2017, 6:00 AM
Top 3 Motherboards
August 4, 2017, 6:00 AM



Most Popular ArticlesSony’s 4K OLED Smart TV
August 13, 2017, 6:20 AM
SoundCloud survives the budge scare
August 12, 2017, 6:38 AM
Ticwatch E and S on Kickstarter
August 11, 2017, 6:00 AM
MSI GL62M 7REX Gaming Laptop
August 14, 2017, 6:00 AM
HTC U11 – Newly Certified for Bluetooth 5.1
August 14, 2017, 6:58 AM

Latest Blog Posts
Xiaomi Mi 6 Smartphone.
Nenfort Golit - Aug 8, 2017, 6:00 AM
ASUS 23-inch Monitor
Nenfort Golit - Aug 4, 2017, 6:00 AM






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