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RadioShack Looks To Raise $325M

RadioShack will offer $325 million in convertible senior notes to institutional investors.

The chain will use approximately $40 million of the proceeds for transactions related to the offering, and about $100 million to repurchase shares of its common stock.

The balance will be used for general corporate purposes, including as a source of working capital to replace RadioShack’s $300 million revolving credit facility, which is scheduled to expire next June.

The sale of the notes is expected to close on Aug. 18.