AMD Announces Early Results of Cash Tender Offers and Consent
SUNNYVALE, CA--(Marketwired - Sep 23, 2016) - AMD (NASDAQ: AMD) today announced the early results of its previously announced cash tender offers for certain of its outstanding 6.75% Senior Notes due 2019, 7.75% Senior Notes due 2020 (the "7.75% Notes"), 7.50% Senior Notes due 2022 (the "7.50% Notes") and 7.00% Senior Notes due 2024 (the "7.00% Notes" and, collectively, the "Notes"), subject to any applicable Tender Cap (as defined below).
According to information received from D.F. King & Co., Inc., the Tender Agent and Information Agent in connection with the tender offers, as of 5:00 p.m., New York City time, on Sept. 22, 2016 (that date and time, the "Early Tender Date"), AMD had received valid tenders from holders of the Notes as outlined in the table below.
Dollars per $1,000 Principal Amount of Notes | ||||||||||
Title of Notes | Aggregate Principal Amount Outstanding | Principal Amount Tendered | Principal Amount Accepted | Aggregate Principal Amount To Be Outstanding After Early Settlement | Approximate Proration Factor | Total Consideration(1) | ||||
6.75% Senior Notes due 2019 | $600,000,000 | $403,996,000 | $403,996,000 | $196,004,000 | 100% | $1,090.00 | ||||
7.75% Senior Notes due 2020 | $450,000,000 | $241,954,000 | $241,954,000 | $208,046,000 | 100% | $1,027.08 | ||||
7.50% Senior Notes due 2022 | $475,000,000 | $341,545,000 | $125,000,000 | $350,000,000 | 36.6% | $1,070.00 | ||||
7.00% Senior Notes due 2024 | $500,000,000 | $356,943,000 | $25,000,000 | $475,000,000 | 7.0% | $1,030.00 | ||||
(1) Includes the Early Tender Premium. | ||||||||||
AMD also announced that it intends to accept for purchase $795,950,000 aggregate principal amount of Notes validly tendered (and not validly withdrawn) on or before the Early Tender Date, subject to all conditions to the tender offers having been either satisfied or waived by AMD. These Notes will be purchased on the "Early Settlement Date," which will be determined at AMD's option and is currently expected to occur on Sept. 23, 2016, subject to all conditions to the tender offers having been either satisfied or waived by AMD.