NEWPORT BEACH, USA: Conexant Systems Inc., a fabless semiconductor company, announced that it completed the previously announced planned redemption of the remaining $61.4 million of outstanding aggregate principal amount of its floating rate senior secured notes due in November 2010.
The company also announced that its special purpose entity, Conexant CF, LLC, established a new accounts receivable credit facility with Silicon Valley Bank for $15 million through November 30, 2010.
The senior secured notes redemption was completed on December 18, 2009. The total aggregate redemption amount paid was $62.3 million, including accrued interest. The company funded the redemption with cash on hand. Pursuant to the terms of the indenture governing the notes, the redemption was made at 101 percent of the principal amount of the notes due, plus accrued interest to the redemption date.
Payment was made by The Bank of New York Trust Company, N.A., the trustee of the indenture, in accordance with terms specified in the redemption notice and the redemption procedures of the trustee.
Conexant’s comprehensive portfolio of innovative semiconductor solutions includes products for imaging, audio, embedded-modem, and video applications.
Friday, December 25, 2009
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