Seoul, December 11th, 2007
hynix Semiconductor Inc. (‘hynix’, www.hynix.com) announced that it has successfully offered US$583.4 mn unsecured fixed rate global convertible notes due 2012, on December 11th (December 10th in London time).
The notes were priced at a YTM of 4.5 %, conversion premium of 42%, coupon yield of 4.5%, with an investor’s put option. The notes are expected to be listed on the SGX (Singapore Stock Exchange) on December 17th. Also, the transaction is issued at a long-term 5 year maturity, with one of the highest conversion premiums amongst the recent CB issuances.
The notes were successfully offered in the midst of increasing uncertainties of the international financial markets due to the global credit crunch ignited by the U.S. sub-prime mortgage crisis, even at near year-end, a conventional off-season for the capital markets. Despite the unfavorable market environment, the offering was comfortably 10 times oversubscribed by approximately 150 investors worldwide basis, again clearly demonstrating the significantly improved investor confidence and trust in hynix and hynix related securities.
6 banks including Credit Suisse, Goldman Sachs, Korea Development Bank, Macquarie, Morgan Stanley and Woori Investment & Securities, led the successful issuance. hynix will use the net proceeds from the offering for general corporate purpose, including next year’s capital expenditure for 12-inch capacity expansion.
About hynix Semiconductor Inc.
hynix Semiconductor Inc. (HSI) of Icheon, Korea, is the world’s top tier memory semiconductor supplier offering Dynamic Random Access Memory chips (“DRAMs”) and Flash memory chips for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Stock Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about hynix is available at www.hynix.com.
