MANHASSET, N.Y. Arizona-based semiconductor assembly and test services provider Amkor Technology Inc. said Wednesday (Nov. 30) it has successfully completed two previously announced financing initiatives designed to improve the company's liquidity.
In the first transaction Amkor's subsidiary, Amkor Technology Taiwan Ltd., has closed on a syndicated $54 million secured term loan through a group of institutional lenders, with Chinatrust
Commercial Bank, Ltd. ("Chinatrust") and Ta Chong Commercial Bank acting as coordinating arrangers.
In the second transaction, Amkor has entered into a
new $100 million senior secured revolving credit facility on Nov. 28, 2005 arranged by Bank of America, N.A., and Wachovia Capital Finance Corp. as co-lead arrangers.
The term loan will be repaid in ten equal semi-annual installments with a final maturity of Nov. 30, 2010 and bear interest at a floating rate based on the Taiwan 90-day commercial paper rate plus a margin of 1.2 percent.
In September, Amkor received approximately $30 million in interim financing pending completion of the term loan.