ST Assembly greenshoe exercised, convertibles now $200 million

New York, March 21 - ST Assembly Test Services Ltd. said underwriters of its recent offering of 1.75% convertible notes due 2007 exercised the $25 million over-allotment option, raising the issue to $200 million in size.

The Singapore-based semiconductor test and packaging company originally announced the offering at $150 million, then increased it to $175 million at pricing.

The convertibles were priced via bookrunner Merrill Lynch & Co. to yield 4.91% and with an initial conversion premium of 20%.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.