TiVo Unveils Terms Of Boosted Debt Offering With 4% Coupon

Date : 03/09/2011 @ 8:35AM
Source : Dow Jones News
Stock : Tivo Corp. (MM) (TIVO)
Quote : 19.525  0.475 (2.49%) @ 2:58PM

TiVo Unveils Terms Of Boosted Debt Offering With 4% Coupon

TiVo Corporation (NASDAQ:TIVO)
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TiVo Inc. (TIVO) boosted the size of its planned debt offering to $150 million and said it will carry a 4% coupon as the company seeks proceeds to fund intellectual property litigation and research and development, among other purposes.

The company had outlined plans Tuesday to offer $120 million in five-year, convertible senior notes.

TiVo has filed a slew of patent-infringement suits over its digital-video-recorder technology. It is in the midst of a years-long legal battle with Dish Network Corp. (DISH) and EchoStar Corp. (SATS) and has accused AT&T Inc. (T) of the same patent oversteps that it claims Verizon communications Inc. (VZ) made. Meanwhile, Motorola Mobility Holdings Inc. (MMI) last month filed a suit against TiVo, claiming infringement of its patents for DVRs.

Shares closed Tuesday at $8.75 and were inactive premarket.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

 
 



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