Amkor Technology Announces Notice of Partial Redemption of 6.625% Senior Notes due 2021
June 19 2017 - 4:13PM
Business Wire
Amkor Technology, Inc. (Nasdaq: AMKR) today announced that it
has issued a notice for the redemption of $200 million of the
outstanding $400 million of the Company’s 6.625% Senior Notes due
2021, with the redemption to be effective on July 19, 2017. As
provided in the indenture governing the notes, the redemption price
will be 101.656% of the principal amount of the notes, or $1,016.56
per $1,000.00 principal amount thereof, paid in cash. In addition,
the Company will pay accrued and unpaid interest on the notes to,
but excluding, the redemption date, in accordance with the terms of
the indenture.
The Company plans to fund the redemption of the notes with cash
on hand. It is estimated that the redemption would result in
potential annualized interest savings of approximately $13.3
million. The Company also expects to record a one-time charge in
the third quarter of 2017 of approximately $4.4 million for early
extinguishment of debt.
A notice of partial redemption is being sent to all currently
registered holders of the notes by U.S. Bank National Association,
the trustee under the indenture governing the notes. Copies of the
notice and additional information relating to the procedure for
redemption may be obtained from U.S. Bank National Association by
calling 1-(800)-934-6802 (toll-free).
About Amkor Technology, Inc.
Amkor Technology, Inc. is one of the world’s largest providers
of outsourced semiconductor packaging and test services. Founded in
1968, Amkor pioneered the outsourcing of IC packaging and test, and
is now a strategic manufacturing partner for more than 250 of the
world’s leading semiconductor companies, foundries and electronics
OEMs. Amkor’s operational base includes 10 million square feet of
floor space with production facilities, product development
centers, and sales and support offices located in key electronics
manufacturing regions in Asia, Europe and the U.S. For more
information, visit www.amkor.com.
Forward-Looking Statement Disclaimer
This announcement contains forward-looking statements within the
meaning of federal securities laws. All statements other than
statements of historical fact are considered forward-looking
statements including, without limitation, statements regarding the
completion of the redemption, the potential interest savings and
the charge for early extinguishment of debt. These forward-looking
statements involve a number of risks, uncertainties, assumptions
and other factors that could affect future results and cause actual
results and events to differ materially from historical and
expected results and those expressed or implied in the
forward-looking statements, including, but not limited to, those
discussed in Amkor’s Annual Report on Form 10-K for the year ended
December 31, 2016, and in its subsequent filings with the
Securities and Exchange Commission made prior to or after the date
hereof. Amkor undertakes no obligation to review or update any
forward-looking statements to reflect events or circumstances
occurring after the date of this announcement.
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version on businesswire.com: http://www.businesswire.com/news/home/20170619006218/en/
Amkor Technology, Inc.Greg JohnsonVice President, Finance and
Investor Relations480-786-7594greg.johnson@amkor.com
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