SiliconBeat

Conceptus is the latest company to reach an accord with fund manager UBS over auction-rate securities Conceptus owns that are held by UBS, according to an SEC filing it made Tuesday afternoon.

Under terms of the deal, Conceptus will be allowed to sell its auction-rate securities to UBS for par value any time between June 30, 2010, and July 2, 2012.  As of Nov. 30, the par value of the securities held by UBS for Conceptus was $48.5 million, while the market value of those same securities was about $40.1 million, according to UBS calculations.

Under the offer, Conceptus may also receive no-net-cost loans from UBS or its affiliates for up to 75 percent of the market value of the securities. Conceptus has taken them up on the offer and entered into a credit line agreement goof for about $30 million, with interest on the loan equal to interest earned on the underlying securities.