Kulicke & Soffa repurchases $52.2 million of 0.5% convertibles

By Angela McDaniels

Seattle, Feb. 14 - Kulicke & Soffa Industries Inc. has entered into definitive agreements to repurchase $52.2 million of its outstanding 0.5% convertible subordinated notes due 2008, according to a company news release.

The company will exchange 48 shares of its common stock and $358 in cash for each $1,000 principal amount of notes, for a total of 2.5 million shares and $18.7 million in cash.

The transactions are expected to close Tuesday.

Kulicke and Soffa is a Willow Grove, Pa., supplier of semiconductor wire bonding assembly equipment.

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