Advanced Micro Devices launched a four-part debt offering on August 13 that could raise between US$4 billion and US$5 billion, according to the deal terms.

The US chipmaker said it plans to use the proceeds for general corporate purposes, which may include repaying debt.

The offering includes senior unsecured notes due in 2029, 2031, 2033, and 2036.

AMD also filed related documents with the US Securities and Exchange Commission earlier that day, but the filing did not disclose specific terms.

Initial price discussions were about 70 basis points over US Treasuries for the 2029 notes, 90 basis points for the 2031 notes, 100 basis points for the 2033 notes, and 115 basis points for the 2036 notes.

Bank of America, JP Morgan, Barclays, and Wells Fargo are leading the sale, and the bonds are expected to settle on Aug. 17.

🔗 Source: Reuters

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