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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (156615)	1/23/2002 5:49:22 PM
From: Tenchusatsu	Read Replies (2) \| Respond to of 186894

Paul, $2.5M of the borrowed money is already going toward a Jerry "Where's Mine?" Sanders chair in Urbana. Maybe when Jerry retires, he can become a televangelist? Tenchusatsu

To: Paul Engel who wrote (156615)	1/23/2002 6:16:13 PM
From: puborectalis	Respond to of 186894

Advanced Micro to quickly sell $500 mln conv bonds (UPDATE: Adds details throughout, previously SUNNYVALE, Calif.) NEW YORK, Jan 23 (Reuters) - Advanced Micro Devices Inc. (NYSE:AMD - news), the No. 2 maker of microprocessors after Intel Corp. (NasdaqNM:INTC - news), said late Wednesday it plans to privately sell $500 million of senior debt convertible into company stock. ADVERTISEMENT The sale of AMD's 20-year bonds is expected Wednesday night, with pricing terms to be announced on Thursday, a person close to the sale said. Another technology company, Emulex Corp. (NasdaqNM:EMLX - news), plans to sell $300 million of convertible securities by Thursday morning, while automaker Ford Motor Co. (NYSE:F - news) plans on Thursday to sell a record $4.5 billion. Sunnyvale, California-based AMD, which announced its sale after U.S. markets closed, said it intends to use proceeds for capital expenses, working capital and general corporate purposes. It said it may sell another $100 million of debt if there is enough demand. AMD's bonds are expected to carry a 4.25 to 4.75 percent coupon, and be convertible into AMD shares at a 40 percent to 45 percent premium over the shares' Wednesday closing price on the New York Stock Exchange of $16.70. The shares rose 41 cents during regular trading on Wednesday, but fell to $15.90 in after-hours trading. Shares often fall after a company announces a convertible sale because some investors sell the underlying stock short and the bonds may dilute the stock. A convertible bond is a stock-bond hybrid that usually offers current income and can be converted into company stock. Their fortune is closely tied to the underlying stock price. Last Wednesday, AMD posted a fourth quarter net loss of $15.8 million, or 5 cents per share, on sales of $952 million. A year-end surge in sales of personal computer processors helped the chipmaker post revenue that edged past analysts' forecasts. The shares' 52-week closing high is $34.40, set last May 21, and their 52-week closing low is $7.93, set last Oct. 1. AMD said in a securities filing it had about 339.8 million common shares outstanding as of Nov. 2, 2001. Credit Suisse First Boston and Salomon Smith Barney are arranging AMD's sale, market sources said. AMD's bonds are not callable for three years, the sources said.