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Article: NVIDIA Corporation Announces Redemption of 4 3/4% Convertible Subordinated Notes.
- Article from:
- PR Newswire
- Article date:
- September 17, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NVIDIA Corporation today announced that its Board of Directors has approved the redemption, on October 24, 2003, of its 4 3/4% Convertible Subordinated Notes due 2007. The aggregate principal amount of the notes outstanding is $300 million. The redemption price is equal to 102.714% of the outstanding principal amount of the notes, plus accrued and unpaid interest up to, but excluding, the redemption date.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020613/NVDALOGO )
"NVIDIA's solid financial condition allows us to redeem the notes nearly four years prior to maturity, thereby saving $14.3 million per year in interest expense and cash," said Marv ...