Stats ChipPAC $165 million seven-year notes talked to yield 6¾%-7%, to price Friday

By Paul A. Harris

St. Louis, Nov. 4 - Price talk on Stats ChipPAC Ltd.'s $165 million offering of seven-year senior notes (Ba2/BB) is 6¾% to 7%, according to a market source.

The offering is expected to price on Friday.

Deutsche Bank Securities and Lehman Brothers are bookrunners for the Rule 144A/Regulation S note offering.

The notes will be guaranteed by all of Stats ChipPAC's wholly owned subsidiaries, other than those subsidiaries organized under the laws of the People's Republic of China.

Proceeds will be used to redeem $165 million of 12¾% senior subordinated notes due 2009, to repay bank debt, and for general corporate purposes.

The company is a service provider of semiconductor packaging design, assembly, testing and distribution solutions, based in Singapore and Fremont, Calif.

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