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ChipMOS accepts puts for $78.7 million of 3.375% convertibles
By Jennifer Chiou
New York, Sept. 26 - ChipMOS Technologies (Bermuda) Ltd. said that it received repurchase requests from holders of $78.7 million of its 3.375% convertible senior notes due 2011.
Holders had until noon ET on Sept. 22 to exercise the put option.
The company noted that it has wired the total required cash for the puts to the indenture trustee and paying agent, Bank of New York Mellon.
ChipMOS said that $2.3 million of notes remains outstanding.
When the notes were issued on Sept. 29, 2006, it was announced that they have an initial conversion rate of 145.9854 ChipMOS shares per note, or an initial conversion price of $6.85.
The company is a Hsinchu, Taiwan-based semiconductor test and assembly services provider for liquid-crystal and flat-panel display semiconductors.
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