RF Micro Devices repurchases $197 million in convertibles due 2010

By Devika Patel

Knoxville, Tenn., Nov. 16 - RF Micro Devices, Inc. said it repurchased $197 million of its convertible subordinated notes due 2010 at par plus interest with cash on hand.

There is now approximately $10 million of the notes outstanding.

The company expects to save about $1.9 million in interest expense between now and when the notes mature in July.

Since the March 2008 quarter, RF Micro Devices has repurchased 30 million common shares and retired approximately $262 million of convertible debt.

RF Micro Devices is a Greensboro, N.C.-based maker of radio frequency components.

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