SANTA ANA, Calif.--Advanced Medical
Optics (NYSE: EYE) is offering qualified institutional buyers $150
million in convertible notes in a move to reduce its debt.
The senior subordinated notes due 2025 will be convertible into
cash before June 1, 2011, under certain circumstances. After that
date, the notes will be convertible into cash at any time before
maturity.
Advanced Medical said it intends to use the proceeds to pay off an
outstanding term loan under its senior credit facility. In May, the
company acquired VISX in a $1.25 billion transaction.
July 2005
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