Amkor buys back $33 million notes in year to date

By Angela McDaniels

Tacoma, Wash., Feb. 12 - Amkor Technology, Inc. has repurchased $33 million principal amount of debt due 2011 in the year to date, according to the company's earnings release.

As previously reported, the company repurchased $78 million of its 2.5% convertible senior subordinated notes due 2011 and $40 million of its 7 1/8% senior notes due 2011 during the fourth quarter.

The $151 million of combined repurchases is expected to reduce net interest expense by about $12 million through maturity.

The company said it may continue to purchase its outstanding notes for cash from time to time.

Amkor is a Chandler, Ariz.-based maker of semiconductor assembly and test services.

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