Amkor Technology calls for redemption its 7 1/8% notes, 7¾% notes

By Angela McDaniels

Tacoma, Wash., May 4 - Amkor Technology, Inc. will redeem its $53.5 million outstanding principal amount of 7 1/8% senior notes due 2011 and $358.3 million outstanding principal amount of 7¾% senior notes due 2013 on June 3, according to a company news release.

Holders of the 7 1/8% notes will receive par plus a make-whole payment.

Holders of the 7¾% notes will receive $1,012.92 per $1,000 principal amount.

The company will also pay accrued interest up to but excluding the redemption date.

The redemption will be funded with existing cash and the proceeds from the company's recently completed offering of $345 million principal amount of 7 3/8% senior notes due 2018.

Amkor provides semiconductor assembly and test services and is based in Chandler, Ariz.

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