By Christine Van Dusen
Atlanta, Jan. 5 - Singapore's Stats ChipPAC Ltd. priced $200 million notes due March 31, 2016 (Ba1/BB+/) at par to yield 5 3/8%, a market source said Wednesday.
Deutsche Bank was the bookrunner for the Rule 144A and Regulation S deal.
Proceeds will be used to help prepay in full the remaining $234.5 million outstanding under the company's $360 million senior term loan facility obtained in May 2010, according to a company announcement.
Singapore-based Stats ChipPAC provides semiconductor packaging design, assembly, test and distribution services.
| Issuer: | Stats ChipPAC Ltd.
|
| Amount: | $200 million
|
| Maturity: | March 31, 2016
|
| Description: | Senior notes
|
| Bookrunner: | Deutsche Bank
|
| Coupon: | 5 3/8%
|
| Price: | Par
|
| Yield: | 5 3/8%
|
| Trade date: | Jan. 5
|
| Settlement date: | Jan. 12
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Distribution: | Rule 144A and Regulation S
|
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