By Reshmi Basu
New York, Nov. 5 - Stats ChipPAC priced an upsized $215 million offering of seven-year senior notes (Ba2/BB) Friday at par to yield 6¾%, according to a market source.
The deal, increased to from $165 million, came at the tighter end of price talk. The deal was talked at 6¾% to 7%.
Deutsche Bank Securities and Lehman Brothers ran the Rule 144A/Regulation S deal.
The company is a service provider of semiconductor packaging design, assembly, testing and distribution solutions, based in Singapore and Fremont, Calif.
| Issuer: | Stats ChipPAC
|
| Amount: | $215 million (increased from $165 million)
|
| Issue: | Senior notes
|
| Maturity: | Nov. 15, 2011
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| Coupon: | 6¾%
|
| Issue price: | Par
|
| Yield: | 6¾%
|
| Spread: | 294 basis points over comparable Treasuries
|
| Call option: | Non-callable for four years
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 17
|
| Managers: | Deutsche Bank Securities and Lehman Brothers
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB
|
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