AMD entered into an underwriting agreement on Mar 10, 2025 for $1.5 billion of senior notes, with proceeds meant for part of its ZT Systems purchase

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

AMD, a hardware company listed on Nasdaq, entered into an underwriting agreement on Mar 10, 2025 for a public offering of $1.5 billion of senior notes, it said in an 8-K filed Mar 12, 2025. An 8-K is the report a US-listed company files when something material happens; this one was filed under item 1.01, entry into a material definitive agreement. The agreement was with J.P. Morgan Securities, BofA Securities, Barclays Capital, Citigroup Global Markets and Wells Fargo Securities, which acted as representatives of the underwriters, the banks handling the offering. The offering consisted of $875 million of 4.212% notes due 2026 and $625 million of 4.319% notes due 2028. The 8-K said the 2026 notes would mature on Sep 24, 2026 and the 2028 notes on Mar 24, 2028. It called them senior unsecured obligations; unsecured means that no specific assets of the company back the debt.1^,2^,3^,4^,5^,6^,7^,8

AMD said it intended to use the net proceeds to fund a portion of its acquisition of ZT Group Int'l, known as ZT Systems, and to use them for general corporate purposes if that acquisition was not completed. The offering was expected to close on Mar 24, 2025, subject to customary closing conditions.9^,10

AMD's stock purchase agreement with ZT Group Int'l and its sellers was dated Aug 17, 2024. An 8-K filed Mar 24, 2025 reported that the notes offering closed that day. On Mar 31, 2025, AMD announced the closing of the ZT Systems share purchase. On the closing date it issued 8,335,849 shares of its common stock to the sellers and warrant holders and paid, or was to cause to be paid, $3.375 billion in cash to them and other holders, subject to purchase price adjustments. The sellers and warrant holders were eligible to receive up to 740,961 more shares and $300 million more in cash if certain conditions were met after the closing.11^,12^,13^,14^,15^,16

We hold the text of the 8-K but not Exhibit 1.1, the underwriting agreement itself, so this article does not give its terms beyond the 8-K's summary.17^,18