STATS ChipPAC Announces Expiration and Final Results of the Exchange Offer for
Its 7.5% Senior Notes Due 2015
SINGAPORE--18 MARCH 2013, UNITED STATES -- (Marketwire) -- 03/17/13
-- 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 the expiration and final
results of its private offer to exchange (the "Exchange Offer") any
and all of its outstanding $600.0 million principal amount of 7.5%
Senior Notes due 2015 (the "Existing Notes"), with ISIN/CUSIP:
85771TAH7, Y8162BAE5, US85771TAH77 and USY8162BAE57, for its 4.5%
Senior Notes due 2018 (the "New Notes").
As of the expiration of the Exchange Offer, on Friday, 15 March 2013,
at 11:59 p.m., New York City time, an aggregate principal amount of
$358,409,000, representing approximately 59.73%, of the Existing
Notes had been validly tendered. The Company has accepted for
exchange all validly tendered Existing Notes.
The settlement date for the Exchange Offer is expected to be 20 March
2013. The Existing Notes that are validly tendered in the Exchange
Offer will be cancelled immediately upon exchange for the New Notes.
The Exchange Offer was made on the terms and subject to the
conditions contained in the Company's exchange offer memorandum dated
14 February 2013, as supplemented by the Company's announcement dated
27 February 2013 (collectively, the "Exchange Offer Memorandum"), and
was subject to the offer restrictions described therein.
The aggregate principal amount of New Notes to be issued pursuant to
the Exchange Offer and the Company's private placement of New Notes
(the "Concurrent Offering") is expected to amount to $611,152,000.
The Company also announced that its Korea subsidiary, STATS ChipPAC
Korea Ltd., has received the requisite regulatory approval to
guarantee the New Notes and will accordingly become a Guarantor in
respect of the New Notes.
Unless otherwise defined, defined terms in this release have the
meaning set out in the Exchange Offer Memorandum.
STATS ChipPAC has received approval in-principle from the Singapore
Exchange Securities Trading Limited ("SGX-ST") for the listing of the
New Notes on the SGX-ST. Admission to the Official List of the SGX-ST
uotation of the New Notes on the SGX-ST is not to be taken as an
indication of the merits of STATS ChipPAC or the New Notes.
No Offering of New Notes and No Offer to Purchase Existing Notes
This release does not constitute an offer of securities for sale in
the United States. The New Notes will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements.
This release also does not constitute an offer to purchase, a
solicitation of an offer to purchase, or a solicitation of exchange
with respect to, any Existing Notes.
Certain statements in this release, including statements regarding
the Exchange Offer and the Concurrent Offering, are forward-looking
statements. All forward-looking statements involve a number of risks
and uncertainties that could cause actual results to differ
materially from expectations. Factors that could cause actual results
to differ include factors discussed in its reports filed with the
SGX-ST. You should not unduly rely on such statements. We do not
intend, and do not assume any obligation, to update any
forward-looking statements to reflect subsequent events or
References to "$" are to the lawful currency of the United States of
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
Investor Relations Contact:
Tham Kah Locke
Vice President of Corporate Finance
Tel: (65) 6824 7788
Fax: (65) 6720 7826
Deputy Director of Marketing Communications
Tel: (208) 867-9859
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