Amkor Technology Announces Proposed Convertible Senior Notes Offering

Amkor Technology, Inc. announced its intention to offer $1,000,000,000 aggregate principal amount of convertible senior notes due 2031. The offering is being made to qualified institutional buyers. The notes will be senior, unsecured obligations of Amkor, guaranteed by certain subsidiaries. Amkor also expects to grant an option to purchase an additional $150,000,000 in notes. The company intends to use a portion of the net proceeds to fund capped call transactions and the remainder for general corporate purposes, including capital expenditures. In connection with the offering, Amkor expects to enter into capped call transactions to reduce potential dilution and offset potential cash payments upon conversion of the notes. The offer and sale of the notes are not registered under the Securities Act and will be made in reliance on an exemption from registration.