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STATS ChipPAC Announces Expiration and Final Results of the Exchange Offer for Its 7.5% Senior Notes Due 2015


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 and q 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.

Forward-looking Statements

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 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.

Investor Relations Contact: Tham Kah Locke Vice President of Corporate Finance Tel: (65) 6824 7788 Fax: (65) 6720 7826 email: kahlocke.tham@statschippac.com

Media Contact: Lisa Lavin Deputy Director of Marketing Communications Tel: (208) 867-9859 email: lisa.lavin@statschippac.com

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