STATS ChipPAC’s $435m senior notes priced at 8.5%

The proceeds will go to repayment of borrowings.

STATS ChipPAC has revealed the pricing of its $435m in aggregate principal amount of 8.5% senior secured notes due 2020. According to the company’s report, the notes are to be issued on November 24, 2015, subject to the satisfaction of customary closing conditions.

STATS ChipPAC reportedly plans to funnel the proceeds from the issuance to settle debts under its $890m bridge loan facility, which it entered last August 6.

The notes constitute senior, secured obligations of the company and will be guaranteed by all of STATS ChipPAC’s subsidiaries, save for the ones incorporated in China and Thailand. The notes will mature on November 24, 2020. Interest sits at 8.5% per annum and will be payable semi-annually on May 24 and November 24 of each year, starting May 24, 2016.

Further, the notes will be redeemable at STAT ChipPAC’s option on or after November 24, 2018 at certain prices and upon a change of control at 101% of their principal amount, in each case on top of accrued and unpaid interest. Prior to that date, the notes are redeemable at STA ChipPAC’s option at a make-whole premium with accrued and unpaid interest.

Also Read

CSA, Cisco sign MoC to boost cyber defence

Singapore sees 40% drop in scam losses

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit