Amkor closes on $100 million senior secured revolving credit facility

By Jennifer Chiou

New York, April 16 - Amkor Technology, Inc. announced that it has entered into a new $100 million senior secured revolving credit facility.

The new bank debt, which matures in April 2013, amends and restates Amkor's prior $100 million facility that was scheduled to expire in November 2009, the company said.

The facility provides Amkor with a revolving line of credit for working capital, capital expenditures, repaying debt and other corporate purposes with loans being made subject to availability under a borrowing base of eligible accounts receivable.

Interest is at Libor plus 350 bps before Sept. 30 and then Libor plus 350 bps to 400 bps, depending on the average availability under the borrowing base.

Chandler, Ariz.-based Amkor is a semiconductor test and assembly service provider.

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