Macom Technology talks $400 million five-year convertibles to yield 0%-0.25%, up 37.5%-42.5%

By Abigail W. Adams

Portland, Me., March 22 – Macom Technology Solutions Holdings Inc. plans to price $400 million of five-year convertible notes after the market close on Monday with price talk for a coupon of 0% to 0.25% and an initial conversion premium of 37.5% to 42.5%, according to a market source.

Barclays is the bookrunner for the Rule 144A offering, which carries a greenshoe of $60 million.

The notes are non-callable for three years and then subject to a 130% hurdle.

The notes will be settled in cash, shares or a combination of both.

Net proceeds will be used for the partial repayment of outstanding term loans and for general corporate purposes.

Macom Technology is a Lowell, Mass-based semiconductor company.

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