Silicon Motion closes USD 1.15 billion 0% convertible senior notes offering due 2031
SIMO•Convertible notes offering closes
Silicon Motion closed an upsized USD 1.15 billion offering of 0.00% Convertible Senior Notes due 2031.
- Deal size reflects full exercise of the initial purchasers’ option for an additional USD 150 million of notes.
- Net proceeds totaled USD 1.13 billion, earmarked for general corporate purposes, including repayment of borrowings under its credit agreement.
- Notes carry an initial conversion price of USD 380.5 per ADS, a 65% premium to the Aug. 10 Nasdaq close of USD 230.61.
