Loan & DebtMay 1, 2026, 01:25 PM
Amkor Prices $1B 0.00% Convertible Senior Notes Due 2031
AI Summary
Amkor Technology announced the pricing of its $1 billion aggregate principal amount of 0.00% convertible senior notes due 2031. The notes will not bear regular interest and mature on July 15, 2031. Net proceeds, estimated at $981.7 million, will be used for capped call transactions and general corporate purposes, including capital expenditures. The company also granted initial purchasers an option to buy an additional $150 million in notes.
Key Highlights
- Amkor priced $1 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2031.
- The notes will not bear regular interest and mature on July 15, 2031.
- The initial conversion price is approximately $106.37 per share, a 52.5% premium over the last reported stock price.
- Net proceeds are estimated at $981.7 million, or $1,129.0 million if the option is fully exercised.
- Amkor will use $49.0 million of net proceeds to fund capped call transactions.
- The remaining proceeds are for general corporate purposes, including capital expenditures.
- Initial purchasers have an option to buy up to an additional $150 million in notes.
- Capped call transactions have an initial cap price of $139.50 per share, a 100% premium.