AMD 1998 Annual Report Download - page 242

Interest on foreign and short-term domestic borrowings is negotiated at the time
of the borrowing. Information with respect to our long-term debt, capital lease
obligations and other at year-end is:
(Thousands) 1998 1997
- -------------------------------------------------------------------------------------------------------------------
6% Convertible Subordinated Notes with interest payable
semiannually and principal due on May 15, 2005 $ 517,500 $ -
11% Senior Secured Notes with interest payable
semiannually and principal due on August 1, 2003,
secured by the Fab 25 facility and equipment 400,000 400,000
Term loans under the Dresden Loan Agreements
with weighted-average interest of 5.37% and
principal due between 2001 and 2003, secured
by the Dresden Fab 30 facility and equipment 299,679 -
Secured term loan with interest at LIBOR plus
2.5% (8.06% at December 27, 1998) payable
quarterly and principal payable quarterly from
October 1998 through May 2000, secured by
the Fab 25 facility and equipment 218,750 250,000
Obligations under capital leases 42,812 68,997
Mortgage with principal and 9.88% interest payable
in monthly installments through April 2007 1,657 1,781
Promissory notes - 6,577
Obligations secured by equipment - 1,668
Other debt - 30
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1,480,398 729,053
Other 37,582 -
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1,517,980 729,053
Less: current portion (145,564) (66,364)
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Long-term debt, capital lease obligations and other,
less current portion $1,372,416 $ 662,689
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In May 1998, we sold $517.5 million of Convertible Subordinated Notes due May
15, 2005 under our $1 billion shelf registration declared effective by the
Securities and Exchange Commission on April 20, 1998. Interest on the
Convertible Subordinated Notes accrues at the rate of 6 percent per annum and is
payable semiannually in arrears on May 15 and November 15 of each year,
commencing November 15, 1998. The Convertible Subordinated Notes are redeemable
at our option on and after May 15, 2001. The Notes are convertible at the option
of the holder at any time prior to the close of business on the maturity date,
unless previously redeemed or repurchased, into shares of common stock at a
conversion price of $37.00 per share, subject to adjustment in certain
circumstances.
Included in other is a deferred gain of $34 million recorded during 1998 as a
result of the sale and leaseback of our corporate marketing, general and
administrative facility. The deferred gain will be amortized over the lease
term, which is 20 years (see Note 12).
For each of the next five years and beyond, our long-term debt and capital lease
obligations are:
Long-term debt
(Thousands) (Principal only) Capital leases
- -----------------------------------------------------------------------------
1999 $ 125,283 $19,231
2000 93,901 13,628
2001 53,611 8,886
2002 178,332 3,876
2003 468,290 3,056
Beyond 2003 518,169 557
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Total 1,437,586 49,234
Less: amount representing interest - (6,422)
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Total at present value $1,437,586 $42,812
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Source: ADVANCED MICRO DEVIC, 10-K, March 29, 1999