MEMC Electronic Materials has raised $550 million in a sale of senior notes in the 144a private placement market. The proceeds will be used for general corporate purposes, including working capital, capital expenditures, and acquisitions, investments, strategic transactions and joint ventures.

The silicon wafers maker appointed Bank of America Merrill Lynch, Deutsche Bank and Goldman Sachs as the joint bookrunning managers for the deal, adds Reuters. The notes carry a coupon rate of 7.75% and are due to mature on April 1, 2019. Click here for the release from PR Newswire.

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