Pulse Electronics Corp., a San Diego based maker of electronic components, reached agreements with its debt holders that reduces its debt and the funds needed for debt repayment, the company said.

The agreements apply to the holders of about $20.7 million in outstanding 7 percent convertible notes due 2014. The holders agreed to exchange those notes for various combinations of the company’s existing Term B loan, newly issued stock, and cash, the company said.

The transactions will reduce the company’s outstanding debt and the amount of cash required for debt service, and extend the maturity on the exchanged debt past 2014, allowing Pulse to focus on its long-term strategy and execution of its business plans, the company said.

Pulse also reached agreement with affiliates of funds managed by Oaktree Capital Management LP to convert all of its holdings in Series A preferred stock to common stock in connection with the exchange transactions.

Pulse also agreed to increase its board of directors from seven to nine members and to appoint three Oaktree designees to the board.

Chairman and CEO Ralph Faison said the transactions represent the best possible outcome for all stakeholders, and put the company’s immediate financing issues behind it.

“The exchange transactions immediately reduce our debt by nearly $5 million and extend the maturity of the exchanged debt to 2017,” Faison said. “We achieved this with significantly less dilution of our existing shareholders than we originally illustrated.”