Published on 1/24/2003 in the Prospect News High Yield Daily.
New Issue: AMI Semiconductor prices $200 million 10-year notes to yield 10¾%
By Paul A. Harris
St. Louis, Jan. 24 - AMI Semiconductor, Inc. priced $200 million senior subordinated notes due Feb. 1, 2013 (B3/B) at par on Friday to yield 10¾%, according to a syndicate source.
Credit Suisse First Boston was the bookrunner. Lehman Brothers and UBS Warburg were co-managers.
Proceeds from the Rule 144A deal will be used to refinance preferred stock and repay bank debt.
The issuer is a Pocatello, Ida.-based designer and manufacturer of application-specific integrated circuits.
Issuer: | AMI Semiconductor, Inc.
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Amount: | $200 million
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Maturity: | Feb. 1, 2013
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Security description: | Senior subordinated notes
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Bookrunner: | Credit Suisse First Boston
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Co-managers: | Lehman Brothers, UBS Warburg
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Coupon: | 10¾%
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Price: | Par
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Yield: | 10¾%
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Spread: | 687 basis points over 4% Treasury due November 2012
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Call features: | Callable on Feb. 1, 2008 at 105.375, 103.583, 101.792, par on Feb. 1, 2011 and thereafter
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Equity clawback: | Until Feb. 1, 2006 at 110.75% for up to 35%
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Settlement date: | Jan. 29, 2003 (T+3)
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Ratings: | Moody's: B3
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| Standard & Poor's: B
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Rule 144A Cusip: | 001720AA9
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Price talk: | 10½%-10¾%
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