Overview
- The company launched the offering Thursday as a four-part U.S. dollar investment-grade bond sale first marketed at $4 billion to $5 billion and later narrowed to about $4.75 billion.
- The notes are senior unsecured and split into roughly 3-, 5-, 7- and 10-year tranches with specific tranche sizes and yields reported by underwriters.
- AMD said in its SEC filing that net proceeds will be used for general corporate purposes and may include repayment of about $875 million in bonds maturing next month.
- Bank of America, JPMorgan, Barclays and Wells Fargo lead the deal, which was marketed with initial spread guidance and was expected to settle around August 17.
- The sale follows AMD’s recent AI deals with Anthropic and Microsoft, adds optional funding to the company’s roughly $13.1 billion cash position, and mirrors a broader trend of chipmakers tapping capital markets to fund costly AI and data-center builds.