Stats ChipPAC returned to the international bond markets for the second time in under a year on July 12 with a $150 million 144a deal via Credit Suisse First Boston. The Ba2BB rated credit's five-year bullet offering received an extremely strong market response in contrast to the most recent Asian high yield tech deal from the region by Hynix Semiconductor.
Backed by an order book of $1.2 billion, the lead was able to leverage pricing down from 7.7% to 7.5%. Final pricing came at par on a coupon of 7.5% to yield 358bp over Treasuries. Fees were 1.6% and CSFB was joined by Deutsche Bank as joint-bookrunner and Bank...
