WASHINGTON (dpa-AFX) - Micron Technology, Inc., (MU) said Wednesday that it plans to offer $750 million aggregate principal amount of senior notes due 2025 through an offering to qualified institutional buyers.
The interest rate, redemption provisions and other terms of the Notes will be determined by negotiations between Micron and the initial purchasers.
Micron said it plans to use a portion of the net proceeds from the offering to extinguish its obligations with respect to its 1.875% convertible senior notes due 2031, which may include payments in settlement of conversions of or to repurchase or redeem such notes. The company expects to use the balance of the net proceeds for retirement of other convertible notes and debt and other general corporate purposes.
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