Chartered Semiconductor accepts tenders for $477.8 million 2.5% convertibles

By Jennifer Chiou

New York, Sept. 2 - Chartered Semiconductor Manufacturing announced it accepted tenders from holders of $477,845,000 or 83.1% of its $575 million original principal amount of 2.5% senior convertible notes due April 2, 2006.

The company paid $549.7 million for the notes using a portion of the proceeds from its offering of $625 million senior notes.

Chartered's offer expired at 12:01 a.m. ET on Sept. 1.

The accreted value at maturity of the notes will be $664 million, and the accreted value on Sept. 2, the settlement date of the tender, was $652.5 million.

The Singapore-based semiconductor foundry offered $1,140 per $1,000 original principal amount of the notes plus the pro rata portion of the 2.5% interest payment up to but excluding the settlement date.

Goldman, Sachs & Co. was dealer manager, and Lucid Issuer Services Ltd. was information and tender agent (+1 44 20 7704 0880).

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