Intersil to Propose Tender Offer on Debt

In an effort to eliminate its $61.6 million in long-term debt, Irvine semiconductor maker Intersil Corp. said Monday that it is initiating a tender offer and a solicitation for consent to change the terms of the debt securities.

Intersil said in a press release that the price offered to holders of the debt will be based on a formula that includes a consent payment of $30 per note for those tendered by 5 p.m. Feb. 9.