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Published on 7/18/2013 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily and Prospect News Liability Management Daily.

MagnaChip to redeem all 10½% senior notes due 2018 on Aug. 19

By Tali David

Minneapolis, July 18 - MagnaChip Semiconductor Corp. called all of its subsidiaries' outstanding 10½% senior notes due 2018, according to an 8-K filed with the Securities and Exchange Commission.

The bonds, issued by MagnaChip Semiconductor SA and MagnaChip Semiconductor Finance Co., will be redeemed at par plus a premium and accrued interest on Aug. 19.

The redemption will be funded with the proceeds of the company's new senior note offering.

MagnaChip is a Seoul, South Korea-based maker of computer chips used in cellular phones and other electronic products.


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