News & Events
Intersil Corporation Announces Partial Debt Redemption
Intersil to Repay 35 Percent of Outstanding Senior Subordinated Notes
PALM BAY, FL. – March 23, 2000 – Intersil Corporation (NASDAQ: ISIL) today announced that it will redeem 35 percent of the $200 million outstanding debt from its 13.25 percent Senior Subordinated Notes due 2009. The $70 million redemption—outlined in the company’s February 24, 2000 prospectus filed with the United States Securities and Exchange Commission—will occur on March 31, 2000 at a redemption price of 113.25 percent of the principal amount of the notes redeemed, plus accrued interest to the date of redemption. The redemption will be made using cash proceeds from Intersil’s recent initial public offering (IPO) of Class A common stock and will affect all holders of these notes on a pro rata basis.
PALM BAY, FL. March 23, 2000 Intersil Corporation (NASDAQ: ISIL) today announced that it will redeem 35 percent of the $200 million outstanding debt from its 13.25 percent Senior Subordinated Notes due 2009. The $70 million redemptionoutlined in the companys February 24, 2000 prospectus filed with the United States Securities and Exchange Commissionwill occur on March 31, 2000 at a redemption price of 113.25 percent of the principal amount of the notes redeemed, plus accrued interest to the date of redemption. The redemption will be made using cash proceeds from Intersils recent initial public offering (IPO) of Class A common stock and will affect all holders of these notes on a pro rata basis.
Intersil Corporation uses semiconductor expertise to enable highly integrated voice, data and video communications. Intersil's integrated communications portfolio includes PRISM® Wireless Local Area Network (WLAN) chip sets that enable mobile connectivity products for the home and office; analog and mixed-signal integrated circuits for broadband access to wireless and wired Wide Area Networks (WANs); and power management products that enable 24X7 reliability in network servers, next generation PCs and information appliances. The companys website is located at www.intersil.com.
This press release contains information relating to forecasted results of Intersil, including certain projections and business trends, that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from these forward-looking statements as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to global and market conditions as well as other risks and uncertainties detailed from time to time in Intersil's filings with the Securities Exchange Commission. These forward-looking statements are made only as of the date of this press release and Intersil undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise.
PRISM is a registered trademark of Intersil Corporation.
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