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Mindspeed to sell $40 million convertibles
New York, Dec. 2 - Mindspeed Technologies, Inc. said it plans to sell $40 million of convertible senior notes due 2009.
The deal will have an $8 million greenshoe.
Part of the proceeds will be used to buy Treasuries to fund an escrow to back some of the coupon payments.
Remaining proceeds will be used to fund company operations including research and development and ongoing operating expenses.
The notes will be non-callable.
Mindspeed, a Newport Beach, Calif., maker of networking chips, will see the notes under Rule 144A.
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