SMT & Inspection |
Amkor to enter $300 million loan
Semiconductor assembly and test services provider Amkor Technology, Inc. has begun discussions with a group of institutional lenders concerning entering into a credit facility for a $300 million term loan.
The term loan will mature on the sixth anniversary of the closing date and will be secured by a second lien on substantially all of the assets of Amkor and its domestic subsidiaries. The term loan will bear interest at a floating rate based on LIBOR and will include covenants similar to those in Amkor's outstanding 71/8% Senior Notes due 2011. Amkor intends to use proceeds of the term loan for working capital and general corporate purposes.
