MagnaChip Announces Extension of Exchange Offer for 6.625% Senior Notes due 2021
SEOUL, South Korea and CUPERTINO, Calif., Nov. 19, 2013 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that it has extended the expiration date of its offer to exchange up to $225,000,000 of new 6.625% Senior Notes due 2021 (the "new notes") that have been registered under the Securities Act of 1933 for an equal amount of outstanding unregistered 6.625% Senior Notes due 2021 (the "old notes"). As a result of the extension, the exchange offer is now scheduled to expire at 5:00 p.m., New York City time, on November 19, 2013, unless further extended.
The exchange offer was originally set to expire at 5:00 p.m., New York City time, on November 18, 2013. As of this date, tenders of $223,965,000 aggregate principal amount, or 99.54%, of the old notes have been received pursuant to the exchange offer. Except for the extension of the expiration date, all of the other terms of the exchange offer remain as set forth in the exchange offer prospectus, dated October 18, 2013.
This press release is not an offer to exchange the new notes for the old notes or the solicitation of an offer to exchange, which we are making only through the exchange offer prospectus.
About MagnaChip Semiconductor Corporation
Headquartered in South Korea, MagnaChip is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications.
SOURCE MagnaChip Semiconductor Corporation
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