AMD raises $4.75bn in its biggest ever bond sale
AMD has raised $4.75bn in its biggest ever US dollar bond offering, sold in four tranches with maturities from three to ten years. It held $13.1bn in cash against $3.2bn of debt at the end of June, and has committed up to $5bn to Anthropic.
AMD has raised $4.75bn in the largest dollar bond sale it has ever done. The notes went out in four tranches with maturities from three to ten years, and demand was strong enough that the longest tranche priced about a quarter of a percentage point tighter than first indicated, at 0.9 points over Treasuries.
The company was not short of money. At the end of June it held $13.1bn in cash and short-term investments against $3.2bn of debt, which is an unusually clean balance sheet for a chipmaker at this scale.
What it has taken on is a commitment to a customer. In July AMD...
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