Conexant Prices $175M Senior Secured Notes
March 3, 2010
Conexant Systems, a Newport Beach, Calif.-based technology company, has priced $175 million in 11.25% senior secured notes due 2015.
The proceeds from the bonds, along with some of its cash on hand, will help it tender $232 million in 4% convertible notes due 2011. Goldman Sachs was the sole underwriter.
Under the terms of the tender offer, holders of the convertible notes will be offered par value in cash. The company said the offer should be completed by March 30.
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