dram

Creditors sell part of Hynix stake at 0% discount

Eight sellers, led by Korea Exchange Bank, raise $817 million from the sale of a 6.7% stake in Hynix Semiconductor after failing to exit the Korean memory-chip maker through a M&A transaction.

March 15, 2010

Inotera prices GDRs at the maximum 10% discount

The Taiwanese DRAM maker raises $312 million to fund its migration to the next generation technology.

August 02, 2009

ProMOS tender succeeds after criteria amended

The Taiwan memory-chip maker says 80.34% of the CBs were tendered or will be held to maturity, allowing it to move on to the next phase of its restructuring.

March 30, 2009

ProMOS tender nearly there; deadline extended again

Soft indications of support for the bond buyback suggest the acceptance rate will be above the 79% needed for the deal to succeed, but analysts warn of more troubles ahead.

March 23, 2009

ProMOS extends early deadline on CB buyback

The cash-strapped DRAM maker says more than 50% of its CB holders have indicated support for the offer, but some need more time to complete the tender process.

March 03, 2009

ProMOS attempts CB buyback after failing to meet puts

The Taiwanese DRAM manufacturer secures a syndicated loan to cover a tender at 26.5 cents on the dollar, but more debt redemptions ahead suggest the company's troubles are not over.

February 22, 2009

Hynix surprises market with high coupon CB

The 4.5% coupon allows the memory-chip maker to achieve a premium above 40%, but the strong demand suggests investors think it is good value.

December 10, 2007

ProMOS issues $300 million CB for plant upgrade

The company's fifth ECM transaction since 2003 achieves aggressive pricing, partly thanks to strong liquidity.

February 11, 2007

ProMOS relaunches and prices postponed GDR offering

Recovery in share price allowed for quick return to market; price is fixed at 8% discount after solid demand.

July 06, 2006

Powerchip breaks six-week drought for Asian convertibles

The DRAM manufacturer makes use of positive sector momentum to raise $303 million in a combined GDS offering. The CB is attractively priced, with bankers terming it a "no brainer".

June 26, 2006