TEMPE, Ariz.--(BUSINESS WIRE)--Jun. 19, 2017--
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
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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Source: Amkor Technology, Inc.
Amkor Technology, Inc.
Vice President, Finance
and Investor Relations