Senior Notes announcement

AMD Announces Pricing of Senior Notes Offering
June 07, 2022 17:23 ET | Source: Advanced Micro Devices, Inc.


SANTA CLARA, Calif., June 07, 2022 (GLOBE NEWSWIRE) – Following the previous announcement of the launch of a senior notes offering, AMD (NASDAQ: AMD) announced today that it has priced an underwritten public offering (the “Offering”) of $1 billion aggregate principal amount of senior notes, consisting of $500 million aggregate principal amount of its 3.924% Senior Notes due 2032 (the “2032 Notes”) and $500 million aggregate principal amount of its 4.393% Senior Notes due 2052 (the “2052 Notes,” and together with the 2032 Notes, the “Notes”).

The 2032 Notes will mature on June 1, 2032 and will bear interest at a rate of 3.924% per annum, and the 2052 Notes will mature on June 1, 2052 and will bear interest at a rate of 4.393% per annum. The Notes will be senior unsecured obligations of the Company.
The Offering is expected to close on June 9, 2022, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for general corporate purposes.

Barclays Capital Inc., BofA Securities, Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Citigroup Global Markets Inc., BNY Mellon Capital Markets, LLC, Standard Chartered Bank, Guzman & Company, Loop Capital Markets LLC and Stern Brothers & Co are acting as joint book-running managers and underwriters for the Offering.

The Offering is being made pursuant to an automatically effective shelf registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 6, 2022 (the “Registration Statement”). The Offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the preliminary prospectus supplement and the accompanying base prospectus, and, when available, the final prospectus supplement for the Offering may be obtained by contacting Barclays Capital Inc. at 1-888-603-5847 (toll free), BofA Securities, Inc. at 1-800-294-1322 (toll free), Credit Suisse Securities (USA) LLC at 1-800-221-1037 (toll free), J.P. Morgan Securities LLC at 1-212-834-4533 and Wells Fargo Securities, LLC at +1-800-645-3751 (toll free). Copies of the preliminary prospectus supplement and the accompanying base prospectus are, and, when available, the final prospectus supplement will be, also available on the SEC’s website at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor will there be any offer, solicitation or sale of the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Thanks, for posting this.

I think this is actually very big news. After two acquisitions and the successful ramp of sales (which is creating significant cash flow); I am taking this as a signal that the conservative Lisa Su is ready to step on the gas and sees an opportunity that is worth taking on a billion in debt for. That to me is very exciting.

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think this is actually very big news. After two acquisitions and the successful ramp of sales (which is creating significant cash flow); I am taking this as a signal that the conservative Lisa Su is ready to step on the gas and sees an opportunity that is worth taking on a billion in debt for. That to me is very exciting.

I agree with you, except on timing. I think AMD was looking for Pensando Systems or someone like them in the DPU area. I think that Pesando was a perfect fit, and AMD jumped when they found out that the company might be open to a takeover. The Senior Notes just bring AMD’s cash levels to where they normally are.

A lot of people have been expecting AMD to acquire some company in the networking area. I think Pesando’s core business is a good fit for AMD, plus their experience with reducing latency.

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