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ADVANCED MICRO DEVICES INC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

February 26, 2014



Item 1.01 Entry into a Material Definitive Agreement.

Indenture. On February 26, 2014, Advanced Micro Devices, Inc. (the "Company") issued $600,000,000 aggregate principal amount of 6.75% Senior Notes due 2019 (the "Notes"). The terms and conditions of the Notes and related matters are set forth in the Indenture, dated as of February 26, 2014, by and between the Company and Wells Fargo Bank, National Association, as trustee (the "Indenture"). A copy of the Indenture, including the form of the Notes, is attached as Exhibit 4.1 hereto, the terms of which are incorporated herein by reference. The foregoing description of the Indenture, including the form of the Notes, is qualified in its entirety by reference to the full text of the Indenture, including the form of the Notes. Additional information pertaining to the Notes is contained in Item 2.03 and is incorporated herein by reference.

Registration Rights Agreement. In connection with the issuance and sale of the Notes, the Company also entered into a registration rights agreement, dated February 26, 2014, with Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representative of the initial purchasers of the Notes (the "Registration Rights Agreement"). A copy of the Registration Rights Agreement is filed as Exhibit 10.1 hereto, the terms of which are incorporated herein by reference. Pursuant to the Registration Rights Agreement, the Company will file an exchange offer registration statement with the Securities and Exchange Commission (the "SEC") with respect to an offer to exchange the Notes for notes ("Exchange Notes") having identical terms in all material respects to the Notes and which will evidence the same continuing indebtedness of the Company (except that the Exchange Notes will not contain terms with respect to transfer restrictions or the interest rate increases described below). The Company will use its commercially reasonable efforts to cause the exchange offer registration statement to be declared effective by the SEC under the Securities Act of 1933, as amended, and to consummate the exchange offer by no later than February 26, 2015. If the Company does not meet any of the above deadlines (a "Registration Default") then, subject to certain exceptions, the interest rate borne by the Notes will be increased by 0.25% per annum for the first 90-day period. Thereafter, the interest rate will be increased by an additional 0.25% per annum for each subsequent 90-day period that elapses until such Registration Default is cured, provided that the aggregate increase in such annual interest rate may in no event exceed 1.00%. The foregoing description of the Registration Rights Agreement is qualified in its entirety by reference to the full text of the Registration Rights Agreement.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off- Balance Sheet Arrangement of a Registrant.

On February 26, 2014, the Company issued $600,000,000 aggregate principal amount of the Notes. The Notes are general unsecured senior obligations of the Company. Interest is payable on March 1 and September 1 of each year beginning September 1, 2014 until the maturity date of March 1, 2019. The Company's obligations under the Notes are not guaranteed by any third party.

Certain events are considered "Events of Default," which may result in the accelerated maturity of the Notes, including (i) a default in any interest, principal or premium amount payment; (ii) a merger, consolidation or sale of all or substantially all of its property; (iii) a breach of covenants in the Notes or the Indenture; (iv) a default in certain debts; (v) if the Company incurs any judgment for the payment of money in an aggregate amount in excess of $50 million; or (vi) if a court enters certain orders or decrees under any bankruptcy law. Upon occurrence of one of these events, the trustee or certain holders may declare the principal of and accrued interest on all of the Notes to be immediately due and payable. If certain events of bankruptcy, insolvency or reorganization with respect to the Company occur, all amounts on the Notes shall be due and payable immediately without any declaration or other act by the trustee or holders of the Notes.

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Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. Exhibit No. Description 4.1 Indenture governing the 6.75% Senior Notes due 2019, including the form of the 6.75% Note, between Advanced Micro Devices, Inc. and Wells Fargo, National Association, as Trustee, dated February 26, 2014. 10.1 Registration Rights Agreement, between Advanced Micro Devices, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, dated February 26, 2014.



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Source: Edgar Glimpses


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