Altera to repay credit agreement in full via senior notes proceeds

By Ashley Montgomery

Kansas City, Kan., May 1 - Altera Corp. intends to use the proceeds from its sale of senior notes to repay all $500 million of outstanding borrowings under its credit agreement due Aug. 31, according to an 8-K filed with the Securities and Exchange Commission.

The company said it plans to terminate the agreement after the repayment.

Altera is a semiconductor company based in San Jose, Calif.

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