Microchip Technology On May 29, Entered Agreement To Issue & Sell $1.1B Aggregate Principal Amount Of 0.75% Convertible Senior Notes Due 2030
Portfolio Pulse from Benzinga Newsdesk
Microchip Technology has entered into an agreement to issue and sell $1.1 billion in aggregate principal amount of 0.75% convertible senior notes due 2030.
May 31, 2024 | 8:23 pm
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Microchip Technology is issuing $1.1 billion in 0.75% convertible senior notes due 2030, which could provide the company with additional capital for growth or debt repayment.
The issuance of convertible senior notes will provide Microchip Technology with significant capital, which can be used for growth initiatives or to manage existing debt. This is likely to be viewed positively by investors as it strengthens the company's financial position.
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