Xilinx calls $689.64 million of 3.125% junior convertibles due 2037

By Susanna Moon

Chicago, Feb. 10 - Xilinx, Inc. said it issued a call to redeem its $689,635,000 of outstanding 3.125% junior convertible subordinated debentures due 2037.

The company will pay par plus accrued interest to but excluding the redemption date of March 17, according to a company press release.

Holders may convert the notes by the close of business on March 14 at a conversion rate of 34.6593 common shares per $1,000 principal amount of convertibles, which is a conversion price of about $28.8523 per share.

The company's stock (Nasdaq: XLNX) closed at $46.10 per share on Feb. 7.

If holders elect to convert their notes, the company said it will fund the conversion by paying cash. Xilinx said it has elected to settle any conversion obligations in excess of the principal amount in cash.

Xilinx said it may consider new debt financing to fund the redemption price or any conversion obligation for notes converted by March 14 or fund the amounts with existing cash.

The depository trust company and the trustee is Bank of New York Mellon Trust Co., NA.

Xilinx is a San Jose, Calif.-based maker of electronic equipment and systems.

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