The initial offer with be for $1.8bn of notes, with a later $400m possible. The company is entering into capped call transactions that it said will limit dilution for stockholders if the notes convert to stock.
The company expects to undergo a restructuring this year, after reporting an awful first quarter in which it lost market share to Intel, saw sales plummet and a profit turn into a loss.
AMD’s share price dipped almost 3% in after-hours trading following the announcement.
