STATS ChipPAC buys back $2.5 million zero-coupon convertibles

By Devika Patel

Knoxville, Tenn., Feb. 11 - STATS ChipPAC Ltd. announced it redeemed $2.5 million of its $6.2 million outstanding zero-coupon convertible notes due 2008.

The notes were bought back for $2.9 million. After the redemption, $3.7 million of the notes remain outstanding, which is about 3.2% of the original $115 million issue.

STATS ChipPAC is a Singapore-based provider of semiconductor packaging design, assembly, test and distribution products.

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