debt
confidence high
sentiment neutral
materiality 0.75
Amkor Technology prices $1B zero-coupon convertible notes due 2031, conversion price $106.37
AMKOR TECHNOLOGY, INC.
- $1,000M aggregate principal of 0.00% Convertible Senior Notes due 2031 priced; initial purchasers have option for additional $150M.
- Initial conversion rate: 9.4013 shares per $1,000 principal, conversion price ~$106.37/share (52.5% premium over $69.75 close).
- Net proceeds ~$981.7M; $49M for capped calls; remainder for general corporate purposes, including capex.
- Notes are senior unsecured, fully guaranteed by subsidiaries; mature July 15, 2031; redeemable after May 15, 2029 if stock >130% of conversion price.
- Capped call transactions with $139.50/share cap price, covering shares underlying notes, to reduce potential dilution.