By Paul A. Harris
Portland, Ore., May 17 - Amkor Technology, Inc. priced a $400 million issue of 10-year senior notes (Ba3/BB/) at par to yield 6 5/8% on Tuesday, according to market sources.
The yield printed on top of the price talk.
Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. were the joint bookrunners for the quick-to-market issue.
The company plans to use the proceeds to fund the tender offer for its 9¼% senior notes due 2016 and for general corporate purposes.
Amkor is a Chandler, Ariz.-based semiconductor company.
| Issuer: | Amkor Technology, Inc.
|
| Amount: | $400 million
|
| Maturity: | June 1, 2021
|
| Securities: | Senior notes
|
| Bookrunners: | Deutsche Bank Securities Inc., Citigroup Global Markets Inc.
|
| Coupon: | 6 5/8%
|
| Price: | Par
|
| Yield: | 6 5/8%
|
| Spread: | 352 bps
|
| Call protection: | Four years
|
| Trade date: | May 17
|
| Settlement date: | May 20
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6 5/8% area
|
| Marketing: | Quick to market
|
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