Shares of

International Rectifier

(IRF)

rose Thursday after the company pulled a planned sale of convertible notes.

"International Rectifier Corp. today announced that, due to adverse market conditions, the company has decided to withdraw its previously announced private offering of convertible subordinated notes," it said.

Since a recent high of $46.05 made last Friday, International Rectifier's shares were down 13% at Wednesday's close. In premarket trading Thursday, they added $2.44, or 6.1%, to $42.61.

The semiconductor outfit had planned to sell $650 million of convertible subordinated notes due 2013 in a private placement, according to a statement on Monday. Proceeds were earmarked for debt redemptions and general corporate purposes.