Avago Tech to redeem remaining 10 1/8% at 105.063, floaters at par

By Susanna Moon

Chicago, Oct. 23 - Avago Technologies Finance Pte. Ltd. said its wholly owned subsidiaries, Avago Technologies Finance Pte. Ltd., Avago Technologies U.S. Inc. and Avago Technologies Wireless (U.S.A.) Manufacturing Inc., plan to redeem all of their remaining 10 1/8% senior notes due 2013 and senior floating-rate notes due 2013.

The redemption date is expected to be Dec. 1.

The issuers plan to redeem the remaining $318,496,000 of the 10 1/8% notes at 105.063% of par plus accrued interest up to the redemption date and the remaining $45,681,000 of the floating-rate notes at par plus accrued interest up to the redemption date.

The redemption is expected to be funded using a portion of proceeds from the previously completed initial public offering of Avago Technologies Ltd.'s common shares and from cash balances.

Avago is a Singapore-based supplier of analog interface components for communications, industrial and consumer applications.

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