AMD is planning to go to the debt markets to raise more than $300 million.
It wants to pay the debt off in 2022.
Some of the cash will be used to repay all, or at least some of the debt it has to pay off this month. It could also be used to pay some of the debts that are due in 2015.
This revised agreement came about when AMD said it was unhappy with GlobalFoundries' 32 nanometer process ramp for Opteron server processors, and its 28 nanometer ramp for Fusion hybrid CPU-GPU chips.
This would free up some money for AMD to buy some more companies. AMD already bought SeaMicro for $334 million and might have its eyes on Calxeda, the ARM server processor maker.
It's rumoured that Applied Micro Circuits could also be a target, as it is working on a multi-core, 64-bit ARMv8 processor for servers, although that might be a bit pricey.
Meanwhile at AMD, John Byrne has just been appointed chief sales officer, he confirmed to ChannelBiz.