Fairchild Prices $200 Million in Convertible Notes

October 29, 2001 by Jeff Shepard

Fairchild Semiconductor International (South Portland, ME) announced that its wholly owned subsidiary, Fairchild Semiconductor Corp., has agreed to privately place $200.0 million aggregate principal amount of five percent convertible senior subordinated notes due 2008. The notes will be unsecured obligations, convertible into common stock of Fairchild Semiconductor International at a conversion price of $30.00 per share. The notes will rank on a parity with Fairchild Semiconductor Corp.'s existing senior subordinated debt and will be subordinated to all future senior indebtedness of Fairchild. The placement of the notes is expected to close on October 31, 2001.

Fairchild intends to use the net proceeds of the issuance for general corporate purposes, including acquisitions and, depending on market conditions and other factors, purchasing its debt from time to time.