By Jennifer Chiou
New York, Sept. 28 - Amkor Technology, Inc. said it increased the fee on offer and prolonged the consent solicitation for a waiver of certain defaults and events of default from the holders of its $400 million 9¼% senior notes due 2016, $250 million 7 1/8% senior notes due 2011, $425 million 7¾% senior notes due 2013, $88.2 million 9¼% senior notes due 2008, $21.9 million 10½% senior subordinated notes due 2009, $142.4 million 5% convertible subordinated notes due 2007 and $190 million 2.5% convertible senior subordinated notes due 2011.
The consent solicitation will now end at 5 p.m. ET on Oct. 3, extended from Sept. 29. It began on Sept. 14.
The company also said consenting noteholders will now receive an augmented the consent fee reflected in the table below under "additional consent fee."
As previously announced, the potential events of default are related to the company's failure to file a 10-Q report with the Securities and Exchange Commission for the quarter ended June 30, according to a company news release. Amkor will also seek a waiver of the application of certain provisions of the indentures governing each series of notes.
As already reported, if the company receives consents from holders of a majority of a series of notes, noteholders who consent will share the dollar amount listed in the table below under "initial consent fee."
If the proposed waivers become effective for a series of notes and Amkor has not yet filed the SEC reports, each consenting holder for that series of notes will receive share the dollar amount listed in the table under "additional consent fee."
In addition, if Amkor has not filed the SEC reports required to be filed by Dec. 31 (or Feb. 28 in the case of the waiver of any Nasdaq delisting consequences), the company may elect to extend the waiver expiration date to March 31, 2007 (or May 30, 2007 in the case of the waiver of any Nasdaq delisting consequences) and pay each consenting holder an additional cash consent fee equal to that consenting noteholder's pro rata share of the dollar amount listed the table below under "extension consent fee."
Global Bondholder Services Corp. (866 470-3800 or 212 430-3774) is the information agent and tabulation agent for the consent solicitation. Jefferies & Co., Inc. (888 272-1901 or 917 421-1901) is solicitation agent.
Amkor is a provider of advanced semiconductor assembly and test services based in Chandler, Ariz.
Consent fees
Principal Initial Additional
| Amount | Consent | Consent | Extension
|
| Title of Securities | Outstanding | Fee | Fee | Consent Fee
|
| 9¼% senior notes due 2016 | $400 million | $400,000 | $3.6 million | $1 million
|
| 7 | 1/8% senior notes due 2011 | $250 million | $250,000 | $2.25 million | $625,000
|
| 7¾% senior notes due 2013 | $425 million | $425,000 | $3.825 million | $1.06 million
|
| 9¼% senior notes due 2008 | $88.2 million | $88,206 | $352,824 | $220,515
|
| 10½% senior sub. notes due 2009 | $21.9 million | $21,882 | $87,528 | $54,705
|
| 5% convertible sub. notes due 2007 | $142.4 million | $142,422 | $569,688 | $356,055
|
| 2.5% convertible sub. notes due 2011 | $190 million | $190,000 | $1.71 million | $475,000
|
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