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Dialog Semiconductor calls 1% bonds due 2017; notes are convertible
By Susanna Moon
Chicago, March 16 – Dialog Semiconductor plc said it exercised the call option on its $201 million 1% convertible bonds due 2017.
The company will redeem the convertibles on May 5.
The convertibles are callable because the parity value has exceeded 130% of the principal amount of the bonds on at least 20 of the 30 consecutive dealing days through March 13, according to a company press release.
Citibank NA, London Branch is the paying and conversion agent.
The bonds also are convertible until April 28.
The conversion price is $29.5717 per share. The company’s stock on the Frankfurt Stock Exchange closed at €43.18, or $45.69, on March 13.
Dialog is a semiconductor company based in London.
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