AMD Announces Extension of Tender Offer for Its 8.125% Notes and Related Consent Payment Deadline
June 16 2014 - 8:00AM
Marketwired
AMD Announces Extension of Tender Offer for Its 8.125% Notes and
Related Consent Payment Deadline
SUNNYVALE, CA--(Marketwired - Jun 16, 2014) - AMD (NYSE: AMD)
today announced that in connection with its previously announced
tender offer (the "Tender Offer") and consent solicitation (the
"Consent Solicitation") with respect to any and all of its
outstanding 8.125% Senior Notes due 2017 (the "8.125% Notes"), each
commencing on June 2, 2014, AMD has extended the deadline by which
holders of the 8.125% Notes ("Holders") may early tender their
8.125% Notes and receive an additional payment of $20.00 for each
$1,000 principal amount of 8.125% Notes purchased pursuant to the
Tender Offer (the "Consent Payment") in accordance with the terms
of the Tender Offer (the "Consent Payment Deadline"), for an
aggregate purchase price of $1,045.88 per $1,000 principal amount
of 8.125% Notes. The Consent Payment Deadline has been extended to
12:00 midnight, New York City time, on June 19, 2014 (the "New
Consent Payment Deadline"). The Consent Payment Deadline for the
Tender Offer was previously 12:00 midnight, New York City time, on
June 13, 2014. As of that time, $135.3 million, or 48.5%, of the
$278.9 million outstanding aggregate principal amount of the 8.125%
Notes have been tendered and have consented, which is approximately
$4.1 million principal amount fewer tendered 8.125% Notes than
required to reduce the redemption notice period for the 8.125%
Notes from 30 calendar days to 3 business days. The current
redemption price is $1,040.63 per $1,000 aggregate principal amount
of 8.125% Notes. Withdrawal rights for Holders expired at 12:00
midnight on June 13, 2014 and are not being extended.
Holders who validly tender their 8.125% Notes on or prior to the
New Consent Payment Deadline will be entitled to the Consent
Payment. Except for the extension of the Consent Payment Deadline
to the New Consent Payment Deadline, all other terms and conditions
of the Tender Offer and Consent Solicitation remain the same. The
Tender Offer will expire at 12:00 midnight, New York City time, on
July 3, 2014.
AMD has retained J.P. Morgan Securities LLC to act as the Dealer
Manager for the tender offer and as Solicitation Agent for the
consent solicitation. Questions regarding the tender offer may be
directed to J.P. Morgan Securities LLC at (800) 245-8812
(toll-free) or (212) 270-1200
(collect). Requests for the Offer to Purchase and Consent
Solicitation and other documents relating to the Tender Offer may
be directed to MacKenzie Partners, Inc., the Information Agent and
Depositary in connection with the Tender Offer, at (800) 322-2885
(toll-free) or (212) 929-5500
(collect).
About AMD 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 http://www.amd.com.
Cautionary Statement This news release contains
"forward-looking" statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and Section 27A of
the Securities Act of 1933, as amended. Forward-looking statements
reflect current expectations and projections about future events,
including the timing and completion of the tender offer, 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 and Quarterly Report on
Form 10-Q for the quarter ended March 29, 2014, 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.
Media Contact Drew Prairie 512-602-4425
drew.prairie@amd.com Investor Contact Ruth Cotter 408-749-3887
ruth.cotter@amd.com
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