tsk tsk, not reading the prospectus, shameful, shameful :-)
"Interest on the Notes is payable on January 1 and July 1 of each year, commencing January 1, 1998. The Company has the right to defer payment of interest on the Notes at any time or from time to time for a period not exceeding 4 consecutive semi-annual interest payment periods with respect to each deferral period (each, an "Extension Period"), provided that no Extension Period may extend beyond the stated maturity of the Notes.
"Upon the termination of any such Extension Period and the payment of all amounts then due on any Interest Payment Date (as defined), the Company may elect to begin a new Extension Period subject to the requirements set forth herein."
The direct link trips up the SI link-interpreter, so I can't post it. The 6/23/97 filing at freeedgar.com has all the details. (BTW, conversion price is $67.44 * 130% = $87.67)
Re TXN/INTC unloading (just saving a post here), fair enough. But!: If they knew (and as big shareholders, I'd bet that they would know) that MU and Danny, Mona, Joe Osha, et al would be running it to $87, they'd do well to hang on for the last glorious payoff.
On June 18, 1997, the last reported sale price of the Common Stock, which is traded under the symbol "MU" on the New York Stock Exchange, was $40 7/8 per share.
Quite the growth stock. :-)
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