Deal Details

Semtech Completes $402.5 Million Convertible Senior Notes Offering

Technology & Services

Semtech convertible senior notes offering

Summary

Semtech Corporation (“Semtech”) (NASDAQ: SMTC) recently completed a private offering of $402.5 million aggregate principal amount of 0.0% convertible senior notes due 2030 (the “Notes”) in a private placement (the “Offering”), which includes the exercise in full by the initial purchasers of the Notes option to purchase an additional $52.5 million aggregate principal amount of the Notes. Semtech intends to use the net proceeds from the Offering as the consideration for exchanges of certain of its existing 1.625% convertible senior notes due 2027 and its 4.00% convertible senior notes due 2028, in each case, pursuant to individually privately negotiated transactions and to repay a portion of the term loans under Semtech’s senior credit facilities.

Baird served as a co-manager on this Offering.

About

Semtech is a leading provider of high-performance semiconductor, Internet of Things (IoT) systems and cloud connectivity service solutions dedicated to delivering high-quality technology solutions that enable a smarter, more connected and sustainable planet. Their global teams are committed to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets. Semtech is headquartered in Camarillo, California.