Microchip Technology plans $600 million convertible notes offering By Investing.com

Microchip Technology (NASDAQ:MCHP) announced its intention to offer $600 million in Convertible Senior Notes due 2030 to qualified institutional buyers. The company plans to use the proceeds, in part, to fund capped call transactions to reduce stock dilution and to repay notes under its commercial paper program. This move comes despite the company not being profitable over the last twelve months, though analysts have revised earnings estimates upwards, and the company maintains strong financial stability.

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