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Technology Stocks : LSI Corporation

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To: E_K_S who wrote (25643)	8/19/2003 9:21:00 AM
From: E_K_S	Read Replies (2) of 25814

LSI Logic calls for redemption of 4.25 pct notes Tuesday August 19, 8:27 am ET Microchip maker LSI Logic Corp. (NYSE:LSI - News) said on Tuesday it has called for the redemption of 4.25 percent convertible subordinated notes due in 2004. The Milpitas, California-based maker of standard and custom integrated circuits used in broadband, wireless and consumer products said holders may convert their notes into shares of LSI Logic common stock at a price of $15.6765 per share, or about 63.8 shares of common stock per $1,000 in principal. The total principal of the notes is about $172 million. LSI Logic's shares closed on the New York Stock Exchange (News - Websites) at $10.27 per share. The company set a redemption date of Sept. 18. ========================================================== The company is calling in their notes sooner than expected. This should further help their free flow cash flow. This debt is to paid off or converted into new LSI shares at a price of $15.6765. No more quarterly interest payments going out on these notes. EKS

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