AMD plans to raise $ 1.02 billion: new architecture Zen to attack Intel
US chip maker AMD said today that as part of its debt restructuring plan, the company plans through the issuance of common stock and bond financing of $ 1.02 billion.
AMD is the world's second largest PC microprocessor manufacturer, the company plans additional shares of common stock through open-market financing $ 600 million, while the 2026 issue of convertible senior notes due financing of $ 450 million (of which $ 30 million with to pay transaction costs).
Recently announced AMD CEO Lisa Su, AMD's next-generation processor Zen will be available later this year or early next year. She believes these chips will enhance the competitiveness of AMD compared to Intel.
In addition, AMD also possible to provide over-allotment option to the underwriters, allowing it to issue additional purchase price of an additional 30 days of approximately $ 90 million of shares, and purchase up to an additional US $ 67.5 million principal amount of convertible senior in bill.
AMD plans to use the financing to repay the resulting $ 1.02 billion before debt. The company will also put the remaining funds used for capital expenditures, working capital and general corporate purposes.xc95144xl-10tqg100i
JP Morgan, Barclays Capital and Credit Suisse will act as the chief underwriter of the financing. Merrill Lynch, Pierce, Fenner & Smith, ASA Securities, Deutsche Bank Securities and Morgan Stanley will also serve as joint underwriters.
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