MACOM Technology Solutions Holdings intends to offer, subject to market and other conditions, $400 million aggregate principal amount of convertible senior notes due 2026.
MACOM intends to use the net proceeds for partial repayment of outstanding term loans.
The notes will be senior unsecured obligations of MACOM and will mature on March 15, 2026, unless earlier repurchased, redeemed or converted.
Separately, MACOM announced that it will be utilizing $100 million of its available cash and cash equivalents and short-term investments to paydown a portion of its outstanding term loans. The term loans are secured and have an original maturity date of May 2024.
