STMicroelectronics prices huge $1.5bn convertible bond

By Aidan Gregory
28 Jul 2020

STMicroelectronics, the French-Italian semiconductor maker, has raised $1.5bn through the sale of new convertible bonds, the company said on Tuesday.

The new $1.5bn zero coupon bond is divided equally into five and seven year tranches. Alongside the new issue, ST is also buying back its outstanding $750m convertible bonds that are set to mature in 2022.

ST is a repeat issuer, and is rated BBB by S&P and ...

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