New Issue: ASMI upsized $100 million convertibles at 5.0% yield, up 20%

By Ronda Fears

Nashville, Tenn., Nov. 15 - ASM International Inc. sold an upsized $100 million of four-year convertible subordinated notes at par to yield 5.0% with a 20% initial conversion premium. The Rule 144A deal, via sole lead manager CIBC World Markets, was doubled in size due to strong demand.

The Dutch semiconductor equipment maker said proceeds of the issue would be used to fund its 15% equity investment in the California-based private semiconductor technology firm NuTool Inc., and to repay short-term debt, and general corporate purposes.

Terms of the new deal are:

Issuer: ASM International Inc.

Amount: $100 million

Greenshoe: $15 million

Lead Manager: CIBC World Markets

Maturity Date: November 2005

Coupon: 5.0%

Issue Price: par

Yield: 5.0%

Conversion Premium: 20%

Conversion Price: $18.85

Conversion Ratio: 53.0504

Call: Non-callable for three years, then with 125% trigger

Settlement Date: Nov. 19

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