Amkor Technology Announces Pricing of $525 Million of Its 6.625% Senior Notes Due 2027 & Intention to Redeem Senior Notes Due...
March 13 2019 - 7:41PM
Business Wire
Amkor Technology, Inc. (Nasdaq: AMKR) (the “Company”) today
announced that it has priced its offering of $525 million aggregate
principal amount of its 6.625% Senior Notes due 2027 (the “2027
Notes”) in a private placement to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), and to
certain non-U.S. persons outside the United States pursuant to
Regulation S under the Securities Act. The offering is expected to
close on March 15, 2019, subject to satisfaction of customary
closing conditions.
The 2027 Notes will be senior unsecured obligations of the
Company. Interest will be payable semi-annually at a rate of 6.625%
per annum on March 15 and September 15 of each year, commencing on
September 15, 2019.
We expect the net proceeds of the 2027 Notes offering to be
approximately $519 million, and we expect to use all such
proceeds, together with cash on hand, to redeem in full the
$525 million aggregate principal amount of our outstanding
6.375% senior notes due 2022 (the “2022 Notes”) and to pay related
fees and expenses. Pending the use of the proceeds of this
offering, we intend to invest the proceeds in cash, cash
equivalents, investment grade securities or other short-term
marketable securities. The consummation of the offering of the 2027
Notes will not be conditioned on the redemption of the 2022
Notes.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy any of the 2027 Notes, nor shall
there be any offer, solicitation or sale in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful. This notice is being issued pursuant to and in accordance
with Rule 135c under the Securities Act.
This announcement does not constitute a notice of redemption of
the 2022 Notes.
The 2027 Notes have not been registered under the Securities Act
or any state securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from
such registration requirements.
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
closing of the 2027 Notes offering and the expected use of proceeds
from the offering. 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, that there can be no assurance that (i) the
offering of the 2027 Notes will be consummated or (ii) the 2022
Notes will be redeemed in full or at all. Other important risk
factors that could affect the outcome of the events set forth in
these statements are discussed in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2018, and in its
subsequent filings with the Securities and Exchange Commission made
prior to or after the date hereof. The Company 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: https://www.businesswire.com/news/home/20190313005920/en/
Amkor Technology, Inc.Vincent KeenanVice President, Investor
Relations480-786-7594vincent.keenan@amkor.com
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