Komag plans redemption of 2% convertibles due 2024

By Jennifer Chiou

New York, March 21 - Komag Inc. said that it intends to use proceeds from a notes offering to fund the redemption of its 2% convertible subordinated notes due 2024.

The company plans to offer $200 million of convertible subordinated notes due 2014, plus a greenshoe for $30 million of additional notes.

The San Jose, Calif., maker of thin-film disks said that remaining proceeds will go toward general corporate purposes, which may include additional stock repurchases.

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