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Vishay Intertechnology plans $150 million 30-year convertibles to yield 2%-2.25%, up 12.5%-15%
By Rebecca Melvin
New York, May 29 - Vishay Intertechnology Inc. plans to price $150 million of 30-year convertible senior debentures before the market open on Wednesday that were talked to yield 2% to 2.25% with an initial conversion premium of 12.5% to 15%, according to a market source.
J.P. Morgan Securities LLC and Goldman Sachs & Co. are the joint bookrunners for the Rule 144A offering.
The debentures will be non-callable for 10 years and then provisionally callable subject to a 150% price hurdle. There are no puts.
Proceeds are for share repurchases.
Malvern, Pa.-based Vishay makes semiconductors and electronic components.
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