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AMD’s quarterly report gave to understand that the company was not doing as well as they wished. Trying to reduce the expenses AMD decided to have more processors made in third-party production facilities and sell more licenses for their intellectual property. However, besides that there were also purely financial means of resolving the crisis.
Advanced Micro Devices today announced the pricing of $2 billion aggregate principal amount of 6.00% Convertible Senior Notes due 2015 in a private placement to qualified institutional buyers. It will allow the company to gain additional financial means. AMD announced it will sell $1.8 billion worth of convertible notes, giving buyers a 30-day option to buy up to an additional $400 million in notes to cover any over-allotments. These actions will definitely put an end to rumors that large AMD stock options may be purchased by big investment agencies or other companies. Hopefully these measures will help AMD improve the situation.
You can check out the official press release here.
