Advanced Micro Devices Inc intends to call for redemption all its outstanding $30 convertible exchangeable preferred shares when market conditions permit. In such an event, all its outstanding depositary shares, each representing a tenth of a preferred share, would also be redeemed. Every 10 depositary shares are convertible into 19.873 shares of Advanced Micro common, and redemption occurs before March 15 1995, the redemption price will be $50.90 per depositary share, plus accrued dividends. The chipmaker also filed a shelf registration statement covering up to $400m of its securities, which may include debt, preferred stock, depositary share, common stock, or warrants, and any offering will raise cash to reduce outstanding debt, to raise working capital, and for capital expenditures – the company remains short of capacity to meet demand for its Am486 microprocessors.
