AMD deal is "voodoo financing"

STREET INSIDER said AMD has filed its SEC report which it describes as "voodoo financing".

Perhaps the right description of the $2.2 billion convertible note sale is "labyrinthine", or possibly resembling a royal party in Byzantium, or the bureaucracy in the court of Imperial China.

We suspect the conditions of the deal would tax even the most accomplished counter of beans but our attention in the report is to an item dubbed "events of default".

The word default is always slightly worrying.

The masochistic among you can pore over more details here.

AMD's share price is currently trading at $13.61, down 20 US centimes on the day. µ