Nvidia launches $1.3B debt offering to help fund buybacks

|By:, SA News Editor

Nvidia (NVDA) is selling $1.3B worth of convertible senior notes due 2018 in a private offering. The chipmaker says it will use the proceeds mostly to fund buybacks and dividend payments. $200M will be use to repurchase shares from note-purchasers via privately negotiated deals. (PR)

Nvidia added $1B to its buyback program earlier this month, raising its total authorization to $1.29. The company ended its Oct. quarter with $3.03B in cash, equivalents, and investments, and no debt.