Amkor Technology gets early tenders for $123.55 million of 9¼% notes

By Jennifer Chiou

New York, June 7 - Amkor Technology, Inc. announced the receipt of early tenders for $123,549,000 of notes in its offer to purchase up to $175 million of its 9¼% senior notes due 2016.

Those tenders were marked down by 5 p.m. ET on June 7.

The purchase price is $1,050 for each $1,000 principal amount of the notes. This includes an early tender premium of $30.00 for each note tendered by the early tender date.

The company will also pay accrued interest up to but excluding the payment date.

The outstanding principal amount of the notes is $390 million. If the amount of notes tendered exceeds $175 million, the company will accept notes for payment on a pro rata basis.

The offer will expire at 11:59 p.m. ET on June 21. It began on May 24.

As already reported, the company plans to fund the offer with proceeds from a $180 million term loan by Woori Bank to the company's wholly owned Korean subsidiary.

The offer is not contingent on any minimum number of notes being tendered. It is subject to the receipt of the term loan proceeds.

Deutsche Bank Securities Inc. (866 627-0391 or 212 250-2955) is the dealer manager, and Global Bondholder Services Corp. (866 804-2200) is the information agent.

Amkor is a Chandler, Ariz.-based provider of semiconductor assembly and test services to semiconductor companies and electronics original equipment manufacturers.

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