Korea-based MagnaChip to price $225 million eight-year notes Monday

By Paul A. Harris

Portland, Ore., July 15 - South Korea-based MagnaChip Semiconductor Corp. plans to price a $225 million offering of eight-year senior notes on Monday, according to an informed source.

Barclays and Morgan Stanley & Co. are the joint bookrunners for the Rule 144A with registration rights offer.

The notes have a make-whole call at Treasuries plus 50 basis points for the first four years, after which they become callable at a premium.

Covenant protection for the new notes is similar to that of the company's existing notes.

Standard & Poor's assigned a BB- rating to the notes.

The Seoul, South Korea-based designer and manufacturer of analog and mixed-signal semiconductor applications plans to use the proceed to repay all of its outstanding 10½% senior notes due in 2018.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.