AST Research Inc. of Irvine, the nation's fourth largest personal computer maker, said Tuesday that it has renewed its application to raise $100 million by selling bonds with a 20-year maturity date.
The money would be used for "working capital, retirement of bank debt, new product development, and other general corporate purposes," the Irvine-based company stated.
AST had initially filed an application with the U.S. Securities and Exchange Commission in February to issue $275 million worth of so-called zero-coupon convertible notes. But it suspended that application because of poor market conditions, said AST spokesman Emory Epperson.
The securities would reach maturity by 2013 and would not pay holders dividends. The company said that if approved by the SEC, the bonds would be sold by Merrill Lynch & Co., the only underwriter in the offering.