Infineon to buy €52.4 million convertibles, exchangeables in €150 million Dutch auction

By Susanna Moon

Chicago, May 11 - Infineon Technologies AG said it accepted tenders of €45.1 million of Infineon Technologies Holding BV's €700 million 5% convertible notes and €7.3 million of Infineon Technologies Investment BV's €215 million 1.375% exchangeable notes.

Infineon said on May 5 that it planned to use up to €150 million to purchase the two series of outstanding notes in a modified Dutch auction.

The company paid 37,500 for the convertibles for a total of €33,825,000 and also paid 37,500 for the exchangeables for a total of €5,475,000.

The principal amount of the exchangeables will fall to €59.05 million from €66.35 million and for the convertibles to €532.9 million from €578 million.

Infineon previously said it would set purchase prices under a modified Dutch auction process, with the maximum purchase price for the notes at 75% of par.

The offer expired on May 11.

The company is a Neubiberg, Germany-based semiconductor company.

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