SUNNYVALE, CA -- (Marketwired) -- 06/16/14 -- AMD (NYSE: AMD) today announced that in connection with its previously announced tender offer (the "Tender Offer") and consent solicitation (the "Consent Solicitation") with respect to any and all of its outstanding 8.125% Senior Notes due 2017 (the "8.125% Notes"), each commencing on June 2, 2014, AMD has extended the deadline by which holders of the 8.125% Notes ("Holders") may early tender their 8.125% Notes and receive an additional payment of $20.00 for each $1,000 principal amount of 8.125% Notes purchased pursuant to the Tender Offer (the "Consent Payment") in accordance with the terms of the Tender Offer (the "Consent Payment Deadline"), for an aggregate purchase price of $1,045.88 per $1,000 principal amount of 8.125% Notes. The Consent Payment Deadline has been extended to 12:00 midnight, New York City time, on June 19, 2014 (the "New Consent Payment Deadline"). The Consent Payment Deadline for the Tender Offer was previously 12:00 midnight, New York City time, on June 13, 2014. As of that time, $135.3 million, or 48.5%, of the $278.9 million outstanding aggregate principal amount of the 8.125% Notes have been tendered and have consented, which is approximately $4.1 million principal amount fewer tendered 8.125% Notes than required to reduce the redemption notice period for the 8.125% Notes from 30 calendar days to 3 business days. The current redemption price is $1,040.63 per $1,000 aggregate principal amount of 8.125% Notes. Withdrawal rights for Holders expired at 12:00 midnight on June 13, 2014 and are not being extended.
Holders who validly tender their 8.125% Notes on or prior to the New Consent Payment Deadline will be entitled to the Consent Payment. Except for the extension of the Consent Payment Deadline to the New Consent Payment Deadline, all other terms and conditions of the Tender Offer and Consent Solicitation remain the same. The Tender Offer will expire at 12:00 midnight, New York City time, on July 3, 2014.
AMD has retained J.P. Morgan Securities LLC to act as the Dealer Manager for the tender offer and as Solicitation Agent for the consent solicitation. Questions regarding the tender offer may be directed to J.P. Morgan Securities LLC at (800) 245-8812 (toll-free) or (212) 270-1200 (collect). Requests for the Offer to Purchase and Consent Solicitation and other documents relating to the Tender Offer may be directed to MacKenzie Partners, Inc., the Information Agent and Depositary in connection with the Tender Offer, at (800) 322-2885 (toll-free) or (212) 929-5500 (collect).
AMD (NYSE: AMD) designs and integrates technology that powers millions of intelligent devices, including personal computers, tablets, game consoles and cloud servers that define the new era of surround computing. AMD solutions enable people everywhere to realize the full potential of their favorite devices and applications to push the boundaries of what is possible. For more information, visit http://www.amd.com.
This news release contains "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect current expectations and projections about future events, including the timing and completion of the tender offer, and thus involve uncertainty and risk. It is possible that future events may differ from expectations due to a variety of risks and other factors such as those described in AMD's Annual Report on Form 10-K for the fiscal year ended December 28, 2013 and Quarterly Report on Form 10-Q for the quarter ended March 29, 2014, as filed with the U.S. Securities and Exchange Commission. It is not possible to foresee or identify all such factors. Any forward-looking statements in this news release are based on certain assumptions and analyses made in light of AMD's experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. AMD does not intend to update any particular forward-looking statements contained in this news release.
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