Synaptics Inc. (NASDAQ: SYNA) said it has issued a notice of redemption for all of its outstanding 0.75% convertible senior subordinated notes due 2024.
The redemption date is April 2, 2014, and the redemption price will be 100% of the principal amount of the notes outstanding, plus accrued and unpaid interest. Synaptics intends to use cash on hand to fund the redemption.
On and after the redemption date, the notes will no longer be deemed outstanding and interest will cease to accrue, unless Synaptics defaults in making the redemption payment.
Synaptics supports touchscreen solutions for devices ranging from entry-level mobile phones to flagship premium smartphones, tablets and notebook PCs. Its portfolio also includes ThinTouch supporting thin and light keyboard solutions, as well as key technologies for next generation touch-enabled video and display applications. Its website is at www.synaptics.com.