Conexant Redeems Guaranteed Bonds with Priority Payment of Residual Floating Rates Due in 2010 Conexant Systems announced that on December 18, 2009, it will redeem the remaining guaranteed priority bonds with a floating interest rate of US $ 61.4 million due in October 2010. The bond will be redeemed in cash at a price of 1.01 times the total principal amount of the bond, plus the accrued unpaid interest up to the redemption date. Redemption notices have been sent to shareholders of priority-paid secured bonds. The redemption and bond payment will be completed through The Bank of New York Trust Company, the custodian who manages the bond under the contract, based on the redemption notice and the custodian ’s redemption procedures. The company plans to repay in cash. Scott Mercer, Chairman and Chief Executive Officer of Conexant Systems, said: "Our redemption of the last part of the secured bonds with priority payment represents a new milestone for our company. Looking ahead, we plan to continue our efforts to strengthen our capital structure and improve us Financial performance. With the divestiture of assets and a significant reduction in operating expenses, recently completed a business restructuring strategy, Conexant today is a more refined, more profitable, committed to achieving operational excellence, as well as video, audio, embedding Companies with innovative solutions for digital modems and audio applications. In these areas, we are preparing to launch new products to strengthen the leadership established by our team. " Trench Cover,Trench Drain,Drain Cover,Steel Trench Covers Hunan Furui Mechanical and Electrical Equipment Manufacturing Co., Ltd. , https://www.thresher.nl
May 26, 2020