Infineon buys back bonds to reduce debt by a nominal EUR 53 million |
Neubiberg, 12 May 2009. Infineon Technologies AG has bought back shares of its bonds in the amount of EUR 40 million, whereby the company purchased a nominal value of EUR 53 million of its bonds at a price of 75 %. In the buyback transaction, a nominal EUR 46 million in convertible bonds and EUR 7 million in exchangeable notes were repurchased. “With the buyback of the bonds, we have further reduced our debt and have been able to take advantage of the attractive market price level. The fact that the bondholders did not exploit the buyback option we offered to the full extent reflects how the capital market currently assesses the financial power of our company,” says Dr. Marco Schröter, CFO at Infineon Technologies AG. On 5 May 2009, Infineon called on the owners of its convertible bonds and exchangeable notes to make Infineon an offer for the buyback, which was to be done on the basis of a modified Dutch auction. The auction came to a close on Monday, 11 May 2009, at 4 p.m. |
About Infineon Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, communications, and security. In the 2008 fiscal year (ending September), the company reported sales of Euro 4.3 billion with approximately 29,100 employees worldwide in continuing operations. With a global presence, Infineon operates through its subsidiaries in the U.S. from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Further information is available at www.infineon.com |