Kulicke & Soffa redeems its remaining $48.96 million 1% convertibles

By Susanna Moon

Chicago, July 1 - Kulicke & Soffa Industries, Inc. said it completed the redemption of its remaining 1% convertible subordinated notes due June 30, 2010 at par.

The aggregate principal amount of the notes redeemed was $48,964,000.

After the redemption, the company had total debt of $110 million maturing on June 1, 2012.

"This marks a significant step toward our long-term goal to deleverage the organization," Scott Kulicke, the company's chief executive officer, stated in a press release.

Kulicke & Soffa is a Fort Washington, Pa.-based maker of semiconductor assembly equipment.

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