Silicon Motion plans $800 million zero-coupon convertible senior notes offering due 2031
SIMO•Silicon Motion launches $800 million convertible notes offering
Silicon Motion said it launched a private offering of $800 million of 0.00% convertible senior notes due 2031.
Initial purchasers may buy up to an additional $120 million of notes within 13 days, which would lift the total deal size to $920 million.
The company said it expects to use the proceeds for general corporate purposes, including repayment of amounts outstanding under its credit agreement.
The notes will mature on Aug. 15, 2031. Before May 15, 2031, the notes will be convertible only under certain conditions, and after that date they will be freely convertible until maturity.
