New Issue: Amkor Technology sells upsized $345 million eight-year notes at par to yield 7 3/8%

By Paul A. Harris

St. Louis, April 29 - Amkor Technology, Inc. priced an upsized $345 million issue of eight-year senior unsecured notes (Ba3/B+/) at par to yield 7 3/8% on Thursday, according to an informed source.

The notes priced on top of price talk.

Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. were the joint bookrunners for the quick-to-market issue, which was upsized from $300 million.

Proceeds, together with cash on hand, will be used to redeem all of the company's outstanding 7 1/8% senior notes due 2011 and 7¾% senior notes due 2013.

The issuer is a Chandler, Ariz., provider of semiconductor assembly and test services.

Issuer:	Amkor Technology, Inc.
Amount:	$345 million, increased from $300 million
Maturity:	May 1, 2018
Securities:	Senior unsecured notes
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
Coupon:	7 3/8%
Price:	Par
Yield:	7 3/8%
Spread:	366 bps
Call features:	Make-whole call at Treasuries plus 50 bps until May 1, 2014, then callable at 103.688, 101.844 par on and after May 1, 2016
Equity clawback:	35% at 107.375 until May 1, 2013
Change-of-control put:	101%
Trade date:	April 29
Settlement date:	May 4
Ratings:	Moody's: Ba3
	Standard & Poor's: B+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	7 3/8% area
Marketing:	Quick-to-market

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