Amkor Technology buys back $35 million debt due 2011 with proceeds from 6% convertibles

By Devika Patel

Knoxville, Tenn., April 29 - Amkor Technology, Inc. reported that it repurchased $35 million of debt due 2011 in April.

The company expects to record a related $5 million gain in the second quarter, Amkor's chief financial officer Joanne Solomon said in a company earnings report.

The debt was bought back using the proceeds from a $250 million March offering of 6% convertible senior subordinated notes due 2014.

Chandler, Ariz.-based Amkor is a semiconductor test and assembly service provider.

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