Summary
Advanced Micro Devices, Inc. (AMD) announced on March 11, 2025, the execution of an underwriting agreement to issue $1.5 billion in aggregate principal amount of senior notes. This offering comprises $875 million of 4.212% Senior Notes due 2026 and $625 million of 4.319% Senior Notes due 2028. These notes are senior unsecured obligations of the company. The primary stated purpose for the net proceeds from this offering is to fund a portion of the acquisition of ZT Group Int’l, Inc. (ZT Systems). In the event the ZT Systems acquisition does not materialize, AMD intends to utilize the proceeds for general corporate purposes. The offering is scheduled to close on March 24, 2025, subject to customary closing conditions.
Key Highlights
- 1AMD is raising $1.5 billion through the issuance of senior notes.
- 2The offering consists of two tranches: $875 million in 4.212% notes due 2026 and $625 million in 4.319% notes due 2028.
- 3The senior notes are unsecured obligations of the company.
- 4Net proceeds are earmarked to partially fund the acquisition of ZT Group Int’l, Inc. (ZT Systems).
- 5If the ZT Systems acquisition is not completed, proceeds will be used for general corporate purposes.
- 6The offering is expected to close on March 24, 2025.