Summary
Advanced Micro Devices Inc. (AMD) announced on June 7, 2022, the successful pricing of a $1 billion aggregate principal amount offering of senior notes. This offering consists of $500 million in 3.924% Senior Notes due 2032 and $500 million in 4.393% Senior Notes due 2052. The company intends to use the net proceeds from this offering for general corporate purposes, providing financial flexibility for its ongoing operations and strategic initiatives. The transaction was executed through an underwriting agreement with a syndicate of reputable financial institutions, including Barclays Capital Inc., BofA Securities, Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC. The offering was registered under the Securities Act via a Form S-3 registration statement and a prospectus supplement. The closing of the offering was anticipated for June 9, 2022, subject to customary conditions.
Key Highlights
- 1AMD priced a $1 billion public offering of senior notes.
- 2The offering includes two tranches: $500 million of 3.924% Senior Notes due 2032 and $500 million of 4.393% Senior Notes due 2052.
- 3Proceeds from the offering are earmarked for general corporate purposes.
- 4The underwriting syndicate includes major financial institutions such as Barclays, BofA Securities, Credit Suisse, J.P. Morgan, and Wells Fargo Securities.
- 5The notes are senior unsecured obligations of the Company.
- 6The offering was registered under SEC Form S-3, indicating a streamlined process for public companies.
- 7The filing includes press releases announcing the launch and pricing of the offering.