Spansion Plans Debt Before Fed Announcement: New Issue Alert
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Spansion Inc., the maker of flash-memory chips that emerged from bankruptcy in May, is marketing debt as the appeal of corporate bonds increases amid speculation the Federal Reserve will resume asset purchases.
Spansion plans to sell $200 million of seven-year notes, the Sunnyvale, California-based company said in an Oct. 28 statement distributed by PR Newswire. Proceeds will be used to repay borrowings under a $450 million term loan, Spansion said.