Amkor Announces Pricing of Senior and Convertible Senior Subordinated Notes Offerings.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 ) announced today that it has priced an offering of $400 million aggregate principal amount of its 9.25% senior notes due 2016 (the "Senior Notes"). The offer reflects a $100 million increase to its previously announced intent to offer $300 million aggregate principal amount of its Senior Notes. The issue price of the Senior Notes is 100%, and the offering is expected to close on May 26, 2006. On April 28, 2006 the Company commenced a tender offer for up to $200 million aggregate principal amount of its 9.25% senior notes due 2008. As of May 9, 2006 approximately $350 million aggregate principal amount of the 9.25% senior notes have been tendered in the tender offer. The Company also announced today that it has increased the tender offer cap to $360 million. The Company intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering of its Senior Notes to purchase the 9.25% senior notes in the tender offer (including the payment of the tender premium, accrued ac·crue v. ac·crued, ac·cru·ing, ac·crues v.intr. 1. To come to one as a gain, addition, or increment: interest accruing in my savings account. 2. and unpaid interest, the early tender payment and related fees and expenses). The Company intends to use any remaining net proceeds from the offering of the Senior Notes to pay its other debt obligations and for working capital and general corporate purposes. The tender offer is conditioned on completion of the Senior Notes offering. Concurrent with the pricing of the Senior Notes offering, the Company also announced today that it has priced an offering of $190 million aggregate principal amount of its 2.5% convertible senior subordinated notes due 2011 (the "Convertible Notes"). The offer reflects a $40 million increase to its previously announced intent to offer $150 million aggregate principal amount of its Convertible Notes. Additionally, the Company has announced that it has granted the underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. , Citigroup Global Markets Inc., an option to purchase up to an additional $28.5 million aggregate principal amount of Convertible Notes, which is exercisable on or prior to June 9, 2006. The Convertible Notes are convertible at any time by the holders thereof into shares of the Company's common stock at an initial conversion rate of 68.5589 shares of common stock per $1,000 principal amount of Convertible Notes (which represents an initial conversion price of $14.59 per share), subject to adjustment. The issue price of the Convertible Notes is 100%, and the offering is expected to close on May 26, 2006. The Company intends to use the net proceeds from the offering of the Convertible Notes to redeem redeem v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (due to failure to make payments when due) has begun. , repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. or otherwise retire a portion (or, if the underwriter exercises its option to purchase additional notes in full, all) of the $200 million aggregate principal amount outstanding of its 10.5% senior subordinated notes due 2009 (together with the payment of the related premium, accrued and unpaid interest to and including the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. and related fees and expenses). The Company intends to use any remaining net proceeds from the offering of the Convertible Notes to pay its other debt obligations and for working capital and general corporate purposes. The completion of the Senior Notes offering and the completion of the Convertible Notes offering are conditioned on each other. Each offering is being made pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission on May 10, 2006 by means of a separate prospectus supplement. Citigroup Global Markets Inc. is acting as sole book-running manager for each of the offerings. When available, prospectus supplements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the proposed offerings may be obtained from: Citigroup Corporate and Investment Banking, Attn: Prospectus Department, Brooklyn Army Terminal The Brooklyn Army Terminal consists of large complex of piers, docks, warehouses, cranes, railroad sidings and cargo loading equipment. The terminal was responsible for shipment of army equipment and personnel overseas. , 140 58th Street, 8th Floor, Brooklyn, NY 11220, (718) 765-6732. 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 the notes, nor shall there be any sale of the notes 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 state or jurisdiction. |
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