Mentor Graphics to buy back convertibles with new deal proceeds

New York, Feb. 27 - Mentor Graphics Corp. plans to repurchase its existing 6.875% convertible notes due 2007 and, if the greenshoe is exercised, to buy back part of its outstanding floating-rate convertible bonds due 2023 with proceeds from an offering of $175 million of new convertible bonds due 2026.

Bookrunners are Merrill Lynch & Co., Banc of America Securities and UBS Investment Bank.

The deal has a greenshoe option of $25 million.

Wilsonville, Ore.-based Mentor Graphics specializes in producing electronics design software for semiconductor chip giants such as Intel Corp.

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