Soitec fixes buyback price for Oceanes due 2006

New York, Dec. 23 - Soitec fixed the price it will pay in its offer to buy back its convertible bonds due 2006 in the Oceanes structure at €24.5502 each, including accrued interest.

The repurchase is set for Dec. 23.

Soitec previously said it would offer to buy the Oceanes due 2006 as part of its offering of €103.5 million of new Oceanes, priced on Dec. 10 to yield 4.625% with a 35% initial conversion premium.

The Bernin, France, maker of silicon-on-insulator wafers for the semiconductor industry currently has €92.2 million of the old Oceanes outstanding.

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