AMSTERDAM: Dutch semiconductor equipment maker ASM International on Tuesday said it would sell up to 150 million euros ($221.6 million) in convertible bonds in an effort to extend its debt maturities.

AMSI said it would use the proceeds to buy back its outstanding 2010 and 2011 convertible bonds on an ongoing basis, in addition to general corporate purposes. The bonds will carry a coupon in the range of 6.5 per cent to 7.5 per cent per year, with a conversion premium anywhere from 25 per cent to 32.5 per cent above the stock's reference price.

ASMI called an extraordinary general meeting of shareholders for November 24 to approve the bonds' conversion rights.

The company also said it closed a new standby revolving credit facility of 50 million euros with Rabobank and Morgan Stanley. The three-year facility replaces an existing one with Rabobank.

AMSI reported better-than-expected third-quarter results last week.