SINGAPORE -- 27 FEBRUARY 2013, UNITED STATES--(Marketwire - Feb 26, 2013) - 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 interest rate of its U.S. dollar-denominated fixed rate senior notes due 2018 (the "New Notes") offered in exchange for 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, pursuant to its private exchange offer ("Exchange Offer") announced on 14 February 2013 has been fixed at 4.5% per annum.
The Company also announced that its Malaysia subsidiary, STATS ChipPAC Malaysia Sdn. Bhd., has received the requisite regulatory approval to guarantee the New Notes and will accordingly become a Guarantor in respect of the New Notes.
The Exchange Offer is being made on the terms and subject to the conditions set forth in the Company's Exchange Offer Memorandum dated 14 February 2013 (the "Exchange Offer Memorandum") and is subject to the offer restrictions described therein. This announcement must be read in conjunction with the Exchange Offer Memorandum. The Company may amend, extend or terminate the Exchange Offer at any time.
Unless otherwise defined, defined terms in this release have the meaning set out in the Exchange Offer Memorandum.
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. The Exchange Offer is being made solely pursuant to the Exchange Offer Memorandum and related materials. Eligible Holders should read the Exchange Offer Memorandum and related materials carefully prior to making any decision with respect to the Exchange Offer because they contain important information. Lucid Issuer Services Limited is serving as the information and exchange agent in connection with the Exchange Offer and Eligible Holders can contact the information and exchange agent to obtain a free copy of the Exchange Offer Memorandum and related materials at email@example.com or +44 20 7704 0880 (telephone).
Certain statements in this release, including statements regarding the Exchange Offer, are forward-looking statements. Forward-looking statements include, but are not limited to, any statements of the Company's plans, strategies or objectives for future operations; statements regarding future economic conditions or performance; and any statements of belief or expectation. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from expectations. There can be no assurance that the Exchange Offer will be completed. Factors that could cause actual results to differ include, but are not limited to, the Company's ability to refinance its debt; the amount of recovery from the business interruption insurance claim due to flooding of the Thailand plant; the shortages in supply of key components and disruption in supply chain; general business and economic conditions and the state of the semiconductor industry; prevailing market conditions; demand for end-use applications products such as communications equipment, consumer and multi-applications and personal computers; decisions by customers to discontinue outsourcing of test and packaging services; level of competition; our reliance on a small group of principal customers; our continued success in technological innovations; pricing pressures, including declines in average selling prices; intellectual property rights disputes and litigation; our ability to control operating expenses; our substantial level of indebtedness and access to credit markets; potential impairment charges; availability of financing; changes in our product mix; our capacity utilisation; delays in acquiring or installing new equipment; limitations imposed by our financing arrangements which may limit our ability to maintain and grow our business; returns from research and development investments; changes in customer order patterns; customer credit risks; disruption of our operations; loss of key management or other personnel; defects or malfunctions in our testing equipment or packages; rescheduling or cancelling of customer orders; adverse tax and other financial consequences if the taxing authorities do not agree with our interpretation of the applicable tax laws; classification of the Company as a passive foreign investment company; our ability to develop and protect our intellectual property; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; majority ownership by Temasek Holdings (Private) Limited ("Temasek") that may result in conflicting interests with Temasek and our affiliates; unsuccessful acquisitions and investments in other companies and businesses; labour union problems in South Korea; uncertainties of conducting business in China and changes in laws, currency policy and political instability in other countries in Asia; natural calamities and disasters, including floods, outbreaks of epidemics and communicable diseases; the continued trading and listing of our ordinary shares on the Singapore Exchange Securities Trading Limited. 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.