STMicroelectronics plans to raise 1.5 billion US dollars by issuing convertible bonds, which can be converted into shares at a pre-agreed price.
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STMicroelectronics will issue convertible bonds in two phases, maturing in 2031 and 2033. The company stated in a press release that the proceeds will be used for the early redemption of the remaining $750 million zero-coupon bonds due in 2027, and the rest will be used for general corporate purposes.
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