Amkor Announces Increase in Tender Offer For 9.25% Senior Notes Due 2008 and Early Results of Tender Offer.CHANDLER, Ariz. -- Amkor Technology Amkor Technology, Inc. (NASDAQ: AMKR) is a high-tech semiconductor product manufacturer that includes Intel and IBM among its primary customers. Previously headquartered in West Chester, Pennsylvania, United States, Amkor recently announced that it will move to Chandler, , Inc. (Nasdaq:AMKR AMKR Amkor Technology ) (the "Company") announced today that it has increased to $360 million the aggregate principal amount (the "Tender Cap") of its outstanding 9.25% Senior Notes due 2008 (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. Nos. 031652AJ9, U03169AC0, 031652AK6, 031652AM2) (the "Notes") that it could be obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to accept for payment in its pending cash tender offer. As of 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on May 9, 2006 (the "Early Tender Time"), the Company had received tenders from holders of approximately $349.4 million in aggregate principal amount of Notes. $440.5 million aggregate principal amount of Notes are currently outstanding. The tender offer is scheduled to expire at 12:00 Midnight, New York City time, on Thursday, May 25, 2006 (the "Expiration Date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. "), unless extended or earlier terminated. The total consideration per $1,000 principal amount of the Notes validly tendered and not withdrawn is $1,055.00, which includes an early tender payment of $20.00 per $1,000 principal amount of Notes (the "Early Tender Payment"). The Early Tender Payment is payable only to holders of the Notes who tendered and validly delivered their Notes on or prior to the Early Tender Time, if such Notes are accepted for purchase by the Company. Holders who tender their Notes after the Early Tender Time and on or prior to the Expiration Date will be entitled to receive $1,035.00 per $1,000 principal amount of the Notes, if such Notes are accepted for purchase by the Company. In addition, holders will receive accrued and unpaid interest on any tendered and accepted Notes from the last interest payment date to, but not including, the date on which the Notes are purchased. The Company expects to accept the Notes for purchase promptly after the Expiration Date and expects that it will pay the purchase price on the Notes on the business day following the date that the Notes are accepted. The Company's obligation to consummate the tender offer is subject to the following events having occurred or been waived: (i) the Company having raised funds sufficient to purchase the outstanding Notes tendered up to the Tender Cap and to pay fees and expenses in connection therewith there·with adv. 1. With that, this, or it. 2. In addition to that. 3. Archaic Immediately thereafter. Adv. 1. on terms and conditions satisfactory to the Company and (ii) satisfaction of other general conditions described in the Offer to Purchase. The Company may further increase or waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such the Tender Cap in its sole discretion. The complete terms and conditions of the tender offer are described in the Offer to Purchase, dated April 28, 2006 and Supplement to the Offer to Purchase, dated May 11, 2006, of the Company. The Company has engaged Citigroup Corporate and Investment Banking to act as dealer manager in connection with the tender offer. Questions regarding the tender offer may be directed to Citigroup at 212-723-6106 (collect) or 800-558-3745 (U.S. toll-free). Requests for documentation may be directed to Global Bondholder Bondholder A firm often has stockholders and bondholders. In a liquidation, the bondholders have first priority. bondholder An individual or institution that owns bonds in a corporation or other organization. Services Corporation, the tender agent and information agent for the tender offer, at 212-430-3774 (for banks and brokers) or 866-873-7700 (U.S. toll-free). This press release does not constitute an offer to sell or a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any Securities, nor shall there be any sale of any Securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The tender offer is being made solely by the Offer to Purchase dated April 28, 2006 and the Supplement to the Offer to Purchase dated May 11, 2006. |
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