UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)
May 20, 2015
AMKOR TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
DELAWARE
 
000-29472
 
23-1722724
 
 
 
 
 
(State or Other Jurisdiction of Incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)

2045 East Innovation Circle
Tempe, AZ 85284
(Address of Principal Executive Offices, including Zip Code)
(480) 821-5000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 






Item 8.01. Other Events.

Amkor Technology, Inc. (the “Company”) today announced that it has issued a notice for the redemption of all $345.0 million aggregate principal amount of the Company’s outstanding 7.375% Senior Notes due 2018 (the “Notes”) to be effected on June 19, 2015. In accordance with the terms of the indenture governing the Notes, the redemption price will be 101.844% of the principal amount of the Notes, or $1,018.44 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. Upon completion of the redemption, no Notes will remain outstanding. The Company plans to fund the redemption of the Notes with borrowings under the Company’s credit facilities and cash on hand.

Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.


Exhibit    Description                            
99.1    Press release, dated May 20, 2015, announcing notice of redemption







SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
AMKOR TECHNOLOGY, INC.
 
 
 
 
 
 
By:
/s/ Gil C. Tily
 
 
 
Gil C. Tily
 
 
 
Executive Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary
 
 
 
 
 

Date: May 20, 2015





Index to Exhibits
 
 
 
 
Exhibit
 
Description
 
 
99.1
 
Press release, dated May 20, 2015, announcing notice of redemption
 
 








    
News Release


Amkor Technology Announces Notice of Full Redemption of 7.375% Senior Notes due 2018

TEMPE, Ariz. - May 20, 2015 - Amkor Technology, Inc. (Nasdaq: AMKR) today announced that it has issued a notice for the redemption of all $345 million aggregate principal amount of the Company’s outstanding 7.375% Senior Notes due 2018 (the “Notes”) to be effected on June 19, 2015. In accordance with the terms of the indenture governing the Notes, the redemption price will be 101.844% of the principal amount of the Notes, or $1,018.44 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.
The Company plans to fund the redemption of the Notes with borrowings under the Company’s credit facilities and cash on hand. The new borrowings bear interest at floating rates tied to LIBOR and, based on current interest rates, it is estimated that the redemption would result in potential annualized interest savings of approximately $17 million. The Company also expects to record a one-time charge in the second quarter of 2015 of approximately $9 million for early extinguishment of debt.
A notice of 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
Amkor is a leading provider of semiconductor packaging and test services to semiconductor companies and electronics OEMs. More information on Amkor is available from the company's SEC filings and on Amkor's website: 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, the fact that an increase in the floating interest rates under the Company’s credit facilities would decrease the potential interest savings from the redemption and those discussed in Amkor’s Annual Report on Form 10-K for the year ended December 31, 2014, 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.

Contacts
Amkor Technology, Inc.
Greg Johnson
Senior Director, Finance and Investor Relations
480-786-7594
greg.johnson@amkor.com

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