Geneva, March 7, 2003 - STMicroelectronics (NYSE: STM) reported that it has repurchased $428,770,000 of its Zero Coupon Senior Convertible Bonds due 2010, representing 19.98% of the total outstanding issue, for a total amount of $328,208,435.
The Zero Coupon Senior Convertible Bonds were repurchased through off market transactions after the close of the Euronext Paris market on March 6, 2003 for an average price of $765.47 per Convertible Bond. The repurchased Bonds will be cancelled in accordance with the terms of the Indenture.
ST's Zero Coupon Senior Convertible Bonds due 2010 are listed on Euronext Paris (Premier Marché).
About STMicroelectronics
STMicroelectronics, one of the world's three largest independent semiconductor suppliers, is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2002, the Company's net revenues were $6.32 billion and net earnings were $429.4 million. Further information on ST can be found at http://www.st.com.
|
|
|
