SINGAPORE (AFX) - STATS ChipPAC said it will redeem 125.92 mln usd worth of convertible notes notes next month, two years ahead of maturity, after the note holders demanded early redemption.
Under the terms of the notes, holders of the notes have the option to require the company to redeem all or any portion of the notes on March 18, 2005 at a redemption price equal to 110.08 pct of the principal amount.
Following the redemption in March, 74.08 mln usd of notes will remain outstanding, it said.
"The company intends to pay for all or a portion of the redeemed notes with cash at hand or some form of financing or a combination of both," STATS ChipPAC said.
(1 usd = 1.64 sgd)
singapore@xfn.com
jb/rc
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
Under the terms of the notes, holders of the notes have the option to require the company to redeem all or any portion of the notes on March 18, 2005 at a redemption price equal to 110.08 pct of the principal amount.
Following the redemption in March, 74.08 mln usd of notes will remain outstanding, it said.
"The company intends to pay for all or a portion of the redeemed notes with cash at hand or some form of financing or a combination of both," STATS ChipPAC said.
(1 usd = 1.64 sgd)
singapore@xfn.com
jb/rc
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
