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STATS ChipPAC Announces Exercise of Option to Redeem the Outstanding US$3.7 Million Principal Amount of Its Convertible Notes Due 2008
| Source: STATS ChipPAC
UNITED STATES--(Marketwire - May 6, 2008) - SINGAPORE - 05/06/2008 -- STATS ChipPAC Ltd.
("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP), a leading
semiconductor test and advanced packaging service provider, today announced
that it has exercised its option to redeem the outstanding US$3.7 million
principal amount, representing approximately 3.2% of the original
outstanding principal amount, of its zero coupon convertible notes due
2008. The redemption price is equal to US$4.5 million, including accrued
interest to the redemption date, which is scheduled on June 6, 2008. The
Company intends to fund the redemption with cash on hand. Upon redemption,
the Company will promptly deliver the redeemed convertible notes to the
trustee under the indenture governing the convertible notes for
cancellation.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP) 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 in 10 different
countries. STATS ChipPAC is listed on the Singapore Exchange Securities
Trading Limited (SGX-ST). In addition, STATS ChipPAC is included in the
Morgan Stanley Capital International (MSCI) Index. Further information is
available at www.statschippac.com. Information contained in this website
does not constitute a part of this release.