Conexant talks $250 million four-year notes at Libor plus 375-400 bps

By Paul A. Harris

St. Louis, Nov. 6 - Conexant Systems, Inc. talked its $250 million offering of four-year senior secured first-lien floating-rate notes at three-month Libor plus 375 to 400 basis points on Monday, according to a market source.

The books are scheduled to close at noon ET on Tuesday, with the notes to price later on Tuesday afternoon.

JP Morgan and Credit Suisse have the books for the Rule 144A and Regulation S offering.

The notes will come with two years of call protection.

Proceeds, together with available cash, cash equivalents and marketable securities on hand, will be used to repay at maturity or otherwise retire the company's outstanding 4% convertible subordinated notes due Feb. 1, 2007.

Conexant Systems is a Newport Beach, Calif., provider of semiconductor solutions for broadband communications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.