South Korea's Hynix Semiconductor sets talk for $750 million dual tranche note offering

By Reshmi Basu

New York, June 22 - Hynix Semiconductor Inc. has set price talk for its $750 million offering of seven-year senior fixed-rate notes and senior floating-rate notes (B1/B+), according to a market source.

Price talk for the tranche of fixed-rate notes has been set in the area of 9¾% while the tranche of floating-rate notes is talked in the area of Libor plus 600 basis points.

Also, the maturity on the fixed-rate tranche was reduced to seven years from 10 years.

Proceeds from the sale will be used to repay bank debt.

Citigroup, Deutsche Bank Securities, UBS Investment Bank and Merrill Lynch & Co. are running the Rule 144A/Regulation S offering, which has registration rights.

Hynix Semiconductor, based in Seoul, is a semiconductor company.

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