STMicroelectronics launched a $1.5 billion offering of senior unsecured convertible bonds.
The issuance features two tranches maturing in 2031 and 2033.
Net proceeds will fund general corporate purposes and the early redemption of $750 million in existing debt.
The company will redeem its outstanding zero-coupon convertible bonds due in 2027.
This redemption is scheduled for July 16, 2026.
Existing bondholders must convert their securities before the July 1, 2026 deadline.
The maneuver extends the company's debt maturity profile while securing new capital.