Singapore's Stats ChipPAC to redeem $3.7 million 0% convertibles

By Susanna Moon

Chicago, May 6 - Stats ChipPAC Ltd. said it would buy back the outstanding $3.7 million of its zero-coupon convertible notes due 2008.

The remaining amount represents 3.2% of the original $115 million principal amount.

The company said it would pay $4.5 million, including accrued interest to the redemption date of June 6. The redemption will be funded with cash on hand.

Stats ChipPAC is a Singapore-based semiconductor test and advanced packaging service provider.

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