Infineon Technologies to price notes exchangeable for 17 million Qimonda ADSs as part of divestment

By Evan Weinberger

New York, Sept. 12 - Infineon Technologies Investments BV plans to offer notes due 2010 exchangeable for 17 million American depository shares of Qimonda AG.

Citigroup, Credit Suisse and JPMorgan are joint bookrunners of the Regulation S transaction. There is an undisclosed greenshoe. Infineon Technologies Investments is a subsidiary of Infineon Technologies AG, a Munich, Germany-based semiconductor producer.

The deal is expected to price on or around Oct. 20.

The exchangeables will come at the same time that Infineon Technologies prices 25 million ADSs of Qimonda, along with a 3.75 million ADS over-allotment option, as part of an effort to divest itself of part of its ownership stake in Qimonda, a Munich-based maker of semiconductor memory components. If the full over-allotment option is exercised, Infineon's stake in Qimonda will shrink to 77.5%.

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