Motorola buying back up to $400M in debt

Posted May 24, 2010 at 6:55 p.m.

By Wailin Wong | Motorola Inc. said Monday it has launched two separate offers to buy back up to $400 million in outstanding debt.

The Schaumburg-based technology company is offering to buy back outstanding bonds due in 2097, of which there is $252 million outstanding. That offer expires on June 7 but can be extended.

Motorola is also offering to buy back three series of bonds due in 2025, 2028 and 2037. There is a combined $1.1 billion of that debt outstanding. The company said the amount of debt it will buy back for this offer will depend on the amount left over from the $400 million after the first offer is concluded.

The offer for the three series of bonds expires on June 21.

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