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08.31.2005 - Maxtor Corporation Announces Exercise of Overallotment Option for an Additional $26 Million of 2.375% Convertible Senior Notes Due 2012

View HardDrive related news. MILPITAS, CA, August 31, 2005 - Maxtor Corporation (NYSE: MXO) announced today that the initial purchasers of its private offering of 2.375% of Convertible Senior Notes due 2012 exercised their right to purchase an additional $26 million of notes, bringing the total amount sold to $326 million. As previously announced, on August 15, 2005 the Company completed a private placement of an aggregate principal amount of $300 million of 2.375% Convertible Senior Notes due 2012, with a 30-day overallotment option for an additional $45 million aggregate principal amount of the notes. The Company and the initial purchasers also amended the purchase agreement so that the initial purchasers can exercise the overallotment option more than once during the 30-day period expiring on September 8, 2005, for up to an aggregate principal amount of $45 million.

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NID: 7745 / Submitted by: TACKtech Team
Categories: Press Release
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