AMD Announces Pricing of Private Offering of $600 Million of Senior Notes
SUNNYVALE, CA -- (Marketwired) -- 02/20/14 -- AMD (NYSE: AMD) today
announced that it has agreed to sell $600 million aggregate principal
amount of its 6.75% Senior Notes due 2019 in a private offering. AMD
intends to close the transaction on or around February 26, 2014.
AMD estimates that the net proceeds from the issuance and sale of the
senior notes will be approximately $590 million after deducting the
initial purchasers' discounts and estimated offering expenses. AMD
intends to use the net proceeds to repurchase up to $425 million
aggregate principal amount of its outstanding 6.00% Convertible
Senior Notes due 2015 through a tender offer which was launched on
February 20, 2014. Remaining net proceeds will be used to repurchase
up to a maximum of $200 million aggregate principal amount of its
outstanding 8.125% Senior Notes due 2017 through a tender offer which
was also launched on February 20, 2014. AMD will use any net proceeds
not used in the tender offers to redeem, repurchase or otherwise
retire other outstanding debt.
The new senior notes have not been registered under the Securities
Act of 1933, as amended, or applicable state securities laws, and
will be offered only to qualified institutional buyers in reliance on
Rule 144A and in offshore transactions pursuant to Regulation S under
the Securities Act. Unless so registered, the new senior notes may
not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act
and applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be
any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
AMD (NYSE: AMD) designs and integrates technology that
powers millions of intelligent devices, including personal computers,
tablets, game consoles and cloud servers that define the new era of
surround computing. AMD solutions enable people everywhere to realize
the full potential of their favorite devices and applications to push
the boundaries of what is possible. For more information, visit
This news release contains "forward-looking"
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934 and Section 27A of the Securities Act of 1933.
Forward-looking statements reflect current expectations and
projections about future events, including the closing of the
offering and AMD's anticipated use of proceeds from the offering, and
thus involve uncertainty and risk. It is possible that future events
may differ from expectations due to a variety of risks and other
factors such as those described in AMD's Annual Report on Form 10-K
for the fiscal year ended December 28, 2013, as filed with the U.S.
Securities and Exchange Commission. It is not possible to foresee or
identify all such factors. Any forward-looking statements in this
news release are based on certain assumptions and analyses made in
light of AMD's experience and perception of historical trends,
current conditions, expected future developments, and other factors
it believes are appropriate in the circumstances. Forward-looking
statements are not a guarantee of future performance and actual
results or developments may differ materially from expectations. AMD
does not intend to update any particular forward-looking statements
contained in this news release.
AMD, the AMD Arrow logo, and combinations thereof, are trademarks of
Advanced Micro Devices, Inc. Other names are for informational
purposes only and may be trademarks of their respective owners.
Press spacebar to pause and continue. Press esc to stop.