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Amkor Technology tenders for $264.28 million 9¼% notes in cash offer
By Susanna Moon
Chicago, May 17 - Amkor Technology, Inc. said it began an offer to purchase for cash its $264,283,000 of outstanding 9¼% senior notes due 2016.
The company will pay $1,050 for each $1,000 principal amount of notes tendered by 5 p.m. ET on May 31, the early tender date. This amount includes an early tender premium of $10 per $1,000 principal amount.
Holders who tender after the early date but by the offer deadline at 11:59 p.m. ET on June 14 will receive $1,040 for each $1,000 principal amount.
Amkor will also pay accrued interest up to but excluding the payment date.
The company plans to redeem any notes not tendered in the offer.
Tendered notes may be withdrawn by 5 p.m. ET on May 31.
Amkor plans to fund the offer with some of the proceeds from its $400 million offering of 6 5/8% senior notes due 2021.
Based in Chandler, Ariz., Amkor provides semiconductor assembly and test services.
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