InterDigital Inc (IDCC)

[LTE]

The 2024 notes were paying a 2% yield and a lot of those
will likely be refinanced. We don't know the yield of the
2027 notes because they haven't been priced yet. So
on the 2024 notes, I believe that IDCC pays roughly
$8 million / year to the bondholders. I doubt the yield
on the 2027 notes gets doubled to 4%.

Also, I don't know why it hasn't been mentioned here, but IDCC
will also use some of the proceeds from the 2027 notes to
repurchase up to $100 million in stock from some select
institutional investors - not on the open market. I don't
think that IDCC has done that before.