Health & Fitness
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Published in Health and Fitness on Wednesday, March 20th 2013 at 9:00 GMT by Market Wire
March 20, 2013 11:48 ET
STATS ChipPAC to Redeem the Outstanding $241.6 Million Principal Amount of Its 7.5% Senior Notes Due 2015
SINGAPORE--20 MARCH 2013, UNITED STATES--(Marketwire - Mar 20, 2013) - STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP) (SGX: S24), a leading provider of advanced semiconductor packaging and test services, today announced that it has given notice to the holders of its outstanding $241.6 million of 7.5% Senior Notes due 2015 (the "Existing Notes"), with ISIN/CUSIP: 85771TAH7, Y8162BAE5, US85771TAH77 and USY8162BAE57, to exercise its option to redeem all of the outstanding Existing Notes on 19 April 2013 (the "Redemption Date") pursuant to the terms of the indenture, dated as of 12 August 2010 (the "Indenture"), between the Company and The Bank of New York Mellon, as trustee, governing the Existing Notes.
Pursuant to the terms of the Indenture, the redemption price for the Existing Notes will be equal to 105.848% of the principal amount thereof, and accrued and unpaid interest, if any, to the Redemption Date. The Existing Notes will be cancelled by the Company upon redemption.
Forward-looking Statements
Certain statements in this release, including statements regarding the Company's redemption of its outstanding Existing Notes, are forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could cause actual results to differ include factors discussed in its reports filed with the Securities Exchange Securities Trading Limited ("SGX-ST"). You should not unduly rely on such statements. We do not intend, and do not assume any obligation, to update any forward-looking statements to reflect subsequent events or circumstances.
References to "$" are to the lawful currency of the United States of America.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. (SGX-ST Code: S24) is a leading service provider of semiconductor packaging design, assembly, test and distribution solutions in diverse end market applications including communications, digital consumer and computing. With global headquarters in Singapore, STATS ChipPAC has design, research and development, manufacturing or customer support offices throughout Asia, the United States and Europe. STATS ChipPAC is listed on the SGX-ST. Further information is available at [ www.statschippac.com ]. Information contained in this website does not constitute a part of this release.
