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Advanced Micro Devices, Inc. Message Board

  • fizzlethread fizzlethread Aug 6, 2012 9:44 AM Flag

    AMD Taking On More Debt...

     

    http://finance.yahoo.com/news/amd-announces-private-offering-300-115600591.html

    "SUNNYVALE, CA--(Marketwire -08/06/12)- Advanced Micro Devices, Inc. (AMD) today announced that it intends to commence a private offering, subject to market and other conditions, of $300 million aggregate principal amount of senior notes due 2022. AMD intends to use the net proceeds for general corporate purposes and working capital, which may include the following: (i) the repayment or repurchase of some or all of its outstanding 5.75% Convertible Senior Notes due August 2012, (ii) repayment or repurchase of some or all of its outstanding 6.00% Convertible Senior Notes due 2015, (iii) cash payments to GLOBALFOUNDRIES related to the 28nm product limited waiver of exclusivity, or (iv) potential strategic transactions."

    A) they can't pay their current debt obligations in full so this is to partially fund that retirement.
    and
    B) They cannot generate the cash flow to pay off their agreed upon obligation to Globalfoundries therefore must finance the transaction with more debt.

    Expect another senior note offering and more debt for AMD before the end of the year, they have at least one or two more payments to make.

    An amazing POS company that is way over valued and should be trading on the pink sheets.

    This topic is deleted.
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AMD
2.77+0.08(+2.97%)Nov 21 4:02 PMEST

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