MagnaChip Semiconductor to roadshow $250 million eight-year notes

By Paul Deckelman

New York, March 24 - MagnaChip Semiconductor SA and MagnaChip Semiconductor Finance Corp. plan to sell $250 million of eight-year senior notes (B2/B+), high yield syndicate sources said on Wednesday. They heard that the company will begin a roadshow on Thursday to market the deal to potential investors, although information on further timing for the deal was not immediately available.

The bonds will be sold under Rule 144A, with registration rights, and Regulation S. They will have two years of call protection, the sources said.

The offering will be brought to market via joint book-runners Goldman Sachs& Co., Barclays Capital, Inc., Deutsche Bank Securities, Inc. and Morgan Stanley & Co. Inc. Co-managers on the deal are Citigroup Global Markets, Inc., Credit Suisse Securities (USA) LLC, and UBS Securities LLC.

MagnaChip, a Seoul, South Korea-based maker of computer chips used in cellular phones and other electronic products, plans to use the deal's proceeds to fund a distribution to shareholders, repay credit facility debt and for working capital.

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