Convertibles Calendar: Lam Research to price $700 million in two tranches

MAY 5

LAM RESEARCH CORP. (Nasdaq: LVCX): $700 million of convertible senior notes in two tranches; $350 million five-year tranche talked 0.5%-1%, up 27.5%-32.5%; $350 million seven-year tranche talked 1.25%- 1.75%, up 27.5%-32.5%; Rule 144A deal; pricing seen after the market close Thursday; via J.P. Morgan Securities LLC and Goldman Sachs & Co. as joint books; $50 million greenshoe each; proceeds for stock repurchases, bond hedge and general corporate purposes; non-callable for life; no puts; takeover and dividend protection; contingent conversion; concurrent convertible note hedge and warrant transactions; Fremont, Calif.-based semiconductor equipment company.

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