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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.



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By mmarq on 8/11/2007 9:16:24 PM , Rating: 2
quote:
The rating always starts at 2, and is increased by 1 (up to a maximum of 5) when some clicks on 'Worth reading', and is reduced by 1 (down to a minimum of -1) when some clicks 'Not worth reading'.


Not that i intend to go around censoring others, because i believe that only hearing oneself 'echo', dosen't make you more wise.

Nevertheless where are those 'Worth reading' and 'Not worth reading' buttons ?... is the threshold box ?... i putted 5 on your post, "change", refresh page, and nothing happened !?...


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