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STMicroelectronics gives notice of early redemption of its US$400 Million 1.00% Convertible Bonds due 2021
The Company is entitled to exercise this option under Condition 7(b)(iii) as Conversion Rights have been exercised, and/or purchases (and corresponding cancellations) and/or redemptions have been effected in respect of more than 85 per cent of the principal amount of the Bonds originally issued. Following such redemption, the Bonds will be cancelled and there will be no Bonds due 2021 outstanding.
As an alternative to the redemption of the Bonds, each Bondholder may exercise its Conversion Rights to convert its Bonds into Shares, cash or a combination of Shares and cash by reference to the prevailing conversion price, currently
A copy of the Optional Redemption Notice is available on the Company's website www.st.com.
Capitalised terms used but not defined in this notice have the same meaning in the Conditions of the Bonds.
In 2016, the Company's net revenues were
This press release relates to the disclosure of information that qualified, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulations.
For further information, please contact:
Group VP, Investor Relations
Tel: +1 602 485 2064
Director, PR & Media Operations
Tel: + 33 6 59 16 79 08