Amkor Technology Singapore enters up to $600 million revolver

By Wendy Van Sickle

Columbus, Ohio, March 29 – Amkor Technology, Inc. indirect wholly owned subsidiary Amkor Technology Singapore Holding Pte. Ltd. entered into an up to $600 million senior revolving credit facility on Monday with HSBC as agent and a joint lead arranger and bookrunner along with DBS Bank Ltd., according to an 8-K filing with the Securities and Exchange Commission.

The availability is limited to a base amount equal to $250 million plus a variable amount equal to 37.5% of the company’s consolidated accounts receivable balance.

The revolver will mature on March 28, 2027.

Borrowings bear interest at SOFR plus 175 basis points plus CSA of 11 bps to 33 bps.

The company must meet certain financial covenants, including a quarterly debt service coverage ratio test of greater than 2x on a trailing 12-month basis and a quarterly maximum leverage ratio test of less than 3x on a trailing 12-month basis.

Proceeds may be used for general corporate purposes.

CTBC Bank Co., Ltd. is the onshore security agent.

The semiconductor company is based in Chandler, Ariz.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.