AMD Commences Tender Offer for its 6.00% Convertible Senior Notes due 2015.
Advanced Micro Devices, Inc. (NYSE: AMD) today announced that it commenced a cash tender offer for up to $800,000,000 in aggregate principal amount of its outstanding 6.00% Convertible Senior Notes due 2015 . AMD intends to finance the purchase of the notes tendered in the tender offer with the net proceeds from the closing of AMDEoACAOs private offering of $500,000,000 aggregate principal amount of senior notes due 2020 (the EoACA[pounds sterling]New Notes OfferingEoACA[yen]), which was separately announced by AMD today, along with its existing cash.
The tender offer will expire at 12:00 midnight, New York City time, on August 20, 2010, unless extended (such date and time, as it may be extended, the EoACA[pounds sterling]Expiration DateEoACA[yen]) or earlier terminated by AMD. Holders who validly tender, and do not validly withdraw, their notes on or prior to the Expiration Date will be entitled to receive $1,000 for each $1,000 principal amount of notes purchased in the tender offer, plus accrued and unpaid interest to, but not including, the date of payment for the notes accepted for payment. Tenders of notes must be made on or prior to the Expiration Date, and notes may be withdrawn at any time on or prior to the Expiration Date.
To the extent that acceptances of all validly tendered notes would require AMD to purchase more than $800,000,000 in aggregate principal amount of notes in connection with the tender offer, AMD will allocate acceptances on a pro rata basis among the tendering Holders.
The tender offer is contingent upon the satisfaction of certain conditions, including the closing of New Notes Offering, which will be subject to customary closing conditions.
Full details of the terms and conditions of the tender offer are included in the Offer to Purchase, dated July 26, 2010, and AMDEoACAOs Schedule TO which have been filed with the Securities and Exchange Commission.
AMD has retained J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. to act as Dealer Managers for the tender offer. Questions regarding the tender offer may be directed to J.P. Morgan Securities Inc. at (800) 261-5767 (toll-free) or Citigroup Global Markets Inc. at (800) 558-3745 (toll-free). Requests for the Offer to Purchase and other documents relating to the tender offer may be directed to MacKenzie Partners, Inc., the Information Agent and Depositary in connection with the tender offer, at (212) 929-5500 (collect) or (800) 322-2885 (toll-free).
Neither AMD, nor any member of its Board of Directors, nor the Dealer Managers, nor the Information Agent/Depositary is making any recommendation to Holders as to whether to tender or refrain from tendering their notes into the tender offer. Holders must decide whether they will tender in the offer and, if so, how many notes they will tender.
This release is for information purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the notes or any other securities. The tender offer is only being made pursuant to the tender offer documents, including the Offer to Purchase and the related letter of transmittal that AMD is distributing to Holders. The tender offer is not being made to Holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
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|Publication:||EMBIN (Emerging Markets Business Information News)|
|Date:||Jul 28, 2010|
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