Advanced Micro Devices $600 million eight-year notes talked at 7½% to 7¾%

By Paul A. Harris

St. Louis, Oct. 21 - Advanced Micro Devices Inc.'s $600 million offering of eight-year senior notes (B3/B-/B-) is talked to yield 7½% to 7¾%, according to a syndicate source.

Pricing is expected Friday on the notes, which are non-callable for four years.

Citigroup is the bookrunner for the Rule 144A/Regulation S offering. Credit Suisse First Boston, Merrill Lynch & Co. and Morgan Stanley are co-managers.

Proceeds, together with existing cash, will be used to prepay the existing term loan of the company's indirect wholly owned German subsidiary, AMD Saxony LLC & Co. KG.

Advanced Micro Devices is a Sunnyvale, Calif.-based microchip maker.

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