Advanced Micro Devices, Inc. Announces Results of Tender Offer For 11 Percent Senior Secured Notes Due 2003
SUNNYVALE, CA --
Advanced Micro Devices, Inc. ("AMD") announced today the results of its tender offer for its 11 percent Senior Secured Notes due 2003 (the "Notes"), which expired at 5:00 p.m., New York City time, on August 2, 2000. As of the expiration of the tender offer, approximately $355,877,000 aggregate principal amount of Notes had been tendered, leaving approximately 11 percent of the aggregate principal amount of the Notes outstanding following the expiration of the tender offer.
These results are based on a preliminary report from the depositary for the tender offer. The purchase price for each $1,000 principal amount of Notes validly tendered and not withdrawn will be $1,064.35 and was determined on July 31, 2000. The purchase price will be in addition to accrued and unpaid interest to, but not including, the payment date, which AMD currently expects to be August 4, 2000.
In conjunction with its tender offer, AMD also obtained consents from the registered holders of the Notes to effect certain proposed amendments to the indenture under which the Notes were issued. In addition to the purchase price, holders who provided their consents to the proposed amendments and tendered their Notes by the Consent Payment Deadline, which was 5:00 p.m., New York City time, on July 19, 2000, will also receive a consent payment of $25.00 per $1,000 principal amount of Notes tendered and accepted for purchase pursuant to the tender offer in addition to the purchase price. A majority in aggregate principal amount of the outstanding Notes was required to adopt the proposed amendments to the indenture.