AMD Announces Private Offering of $300 Million of Senior Notes

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Advanced Micro Devices today announced that it intends to commence a private offering, subject to market and other conditions, of $300 million aggregate principal amount of senior notes due 2022. AMD intends to use the net proceeds for general corporate purposes and working capital, which may include the following: (i) the repayment or repurchase of some or all of its outstanding 5.75% Convertible Senior Notes due August 2012, (ii) repayment or repurchase of some or all of its outstanding 6.00% Convertible Senior Notes due 2015, (iii) cash payments to GLOBALFOUNDRIES related to the 28nm product limited waiver of exclusivity, or (iv) potential strategic transactions.
 
So what do these notes earn? Seems a bit risky.. asking for money to possibly pay back two times they asked for money before.

Oh well, I'm not qualified to buy. Wall Street doesn't seem to care.
10% of market cap seems like a lot though.
 
Seems plausible. Interesting move, not sure if diversification in AMD's case is a good idea at this point, but getting Mips pretty cheap could prove worthwhile.

if they do it it will be a very good move as mips is highly visible in the embedded market
 
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