Advanced Micro Devices starts roadshow for $500 million offering of eight-year senior notes

By Paul A. Harris

St. Louis, Nov. 18 - Advanced Micro Devices, Inc. started a roadshow on Wednesday for its $500 million offering of eight-year senior notes (expected ratings B2/B-), according to market sources.

The roadshow wraps up on Monday, and the deal is expected to price on Monday or Tuesday.

J.P. Morgan Securities Inc. and Citadel Capital are joint bookrunners for the Rule 144A and Regulation S notes.

The notes come with four years of call protection.

Proceeds, along with existing cash, will be used to fund the tender for the Sunnyvale, Calif.-based computer technology company's 5¾% convertible senior notes due 2012. Remaining proceeds, if any, will be used for general corporate purposes.

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