Title of Securities: | 2.50% Convertible Senior Subordinated Notes due 2011 | |
Final Maturity Date: | May 15, 2011 | |
Conversion Rate: | 68.5589 shares of common stock per $1,000 principal amount of notes, subject to adjustment | |
Conversion Price: | $14.59 per share | |
Annual Interest Rate: | 2.50% | |
Interest Payment Dates: | May 15 and November 15, beginning November 15, 2006 | |
Record Dates: | May 1 and November 1 | |
Public Offering Price: | 100%, plus accrued interest, if any, from the issue date | |
Underwriting Discount per Note: | 3.0% | |
Aggregate Principal Amount: | $190.0 million ($218.5 million if the underwriters option to purchase additional notes is exercised in full) | |
Proceeds (before expenses) to Amkor: | $184.3 million ($211.9 million if the underwriters option to purchase additional notes is exercised in full) | |
Make Whole Premium Upon a Designated Event: | Payable upon the occurrence of certain designated events in the form of an increase in the conversion rate ranging from 0.0000 to 20.5677 depending on the stock price at the time of the designated event and the effective date of the designated event. | |
Trade Date: | May 12, 2006 | |
Settlement Date: | May 26, 2006 (T+ 11) | |
Form of Offering: | SEC Registered (Registration Statement No. 333-133953) | |
Underwriter: | Citigroup Global Markets Inc. | |
CUSIP: | 031652 AX 8 | |
ISIN: | US031652AX80 | |
Listing: | None |
Effective Price | ||||||||||||||||||||||||||||||||||||||||||||
Effective Date | $11.22 | $12.50 | $14.00 | $15.50 | $17.00 | $18.50 | $20.00 | $25.00 | $30.00 | $35.00 | $40.00 | |||||||||||||||||||||||||||||||||
May 25, 2006
|
20.5677 | 16.6387 | 13.2168 | 10.6959 | 8.8062 | 7.3665 | 6.2563 | 4.0269 | 3.0022 | 2.5173 | 0.0000 | |||||||||||||||||||||||||||||||||
May 15, 2007
|
20.5677 | 16.6772 | 12.9928 | 10.3023 | 8.3052 | 6.8009 | 5.6554 | 3.4201 | 2.4602 | 2.0514 | 0.0000 | |||||||||||||||||||||||||||||||||
May 15, 2008
|
20.5677 | 16.5738 | 12.5778 | 9.6963 | 7.5875 | 6.0250 | 4.8570 | 2.6771 | 1.8390 | 1.5357 | 0.0000 | |||||||||||||||||||||||||||||||||
May 15, 2009
|
20.5677 | 16.1340 | 11.7595 | 8.6685 | 6.4603 | 4.8700 | 3.7198 | 1.7411 | 1.1402 | 0.9687 | 0.0000 | |||||||||||||||||||||||||||||||||
May 15, 2010
|
20.5677 | 14.8850 | 9.9807 | 6.6640 | 4.4257 | 2.9246 | 1.9277 | 0.5660 | 0.3959 | 0.3394 | 0.0000 | |||||||||||||||||||||||||||||||||
May 15, 2011
|
20.5677 | 11.4411 | 2.8697 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
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| the issuance in this offering of $190.0 million of convertible subordinated notes for net proceeds of $183.9 million and the application thereof to redeem $176.5 million aggregate principal amount outstanding of our 10.5% senior subordinated notes, and | |
| the issuance of $400.0 million of senior notes in the concurrent offering for net proceeds of $391.8 million and the application thereof to repurchase $349.4 million aggregate principal amount of our 9.25% notes in the tender offer. |
At March 31, 2006 | |||||||||||
Actual | As Adjusted | ||||||||||
(In thousands) | |||||||||||
Cash and cash equivalents
|
$ | 226,243 | $ | 239,392 | |||||||
Long-term debt and short-term borrowings:
|
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Senior secured credit facilities:
|
|||||||||||
Term loan due October 2010
|
$ | 300,000 | $ | 300,000 | |||||||
$100.0 million revolving credit facility due November
2009(1)
|
| | |||||||||
9.25% Senior notes due February 2008
|
440,500 | 91,060 | |||||||||
7.75% Senior notes due May 2013
|
425,000 | 425,000 | |||||||||
7.125% Senior notes due March 2011
|
248,711 | 248,711 | |||||||||
% Senior notes due 2016
|
| 400,000 | |||||||||
10.50% Senior subordinated notes due May 2009(2)
|
200,000 | 23,489 | |||||||||
% Convertible senior subordinated notes due 2011
|
| 190,000 | |||||||||
5.75% Convertible subordinated notes due June 2006
|
132,000 | 132,000 | |||||||||
5.00% Convertible subordinated notes due March 2007
|
146,422 | 146,422 | |||||||||
6.25% Convertible subordinated notes due December 2013
|
100,000 | 100,000 | |||||||||
Other debt
|
125,314 | 125,314 | |||||||||
Total debt
|
2,117,947 | 2,181,996 | |||||||||
Total stockholders equity(3)
|
260,398 | 232,654 | |||||||||
Total capitalization
|
$ | 2,378,345 | $ | 2,414,650 | |||||||
(1) | As of March 31, 2006, we had utilized $2.5 million of the available letter of credit sub-limit, and had $97.5 million available under this facility. |
(2) | Pursuant to the terms of the indenture governing these notes, we have the right to redeem the notes at a price of 101.75% plus accrued and unpaid interest to and including the redemption date. For purposes of this table, we have assumed that such notes are redeemed on the 60th day following this offering at that price. The actual amount of 10.5% senior subordinated notes repurchased will depend on market conditions and the actual price at which we may redeem, repurchase or otherwise retire these notes. |
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(3) | Total stockholders equity as of March 31, 2006, as adjusted, reflects an approximate $27.7 million early debt extinguishment charge consisting of $23.2 million of prepayment premiums and $4.5 million for the write-off of unamortized debt issue costs. |
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