Amkor Technology lifts availability, extends revolver, cuts pricing

By Marisa Wong

Madison, Wis., Dec. 24 – Amkor Technology, Inc. amended its second amended and restated loan and security agreement dated June 28, 2012 with Bank of America, NA as administrative agent to increase availability to $200 million from $150 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also extends the termination date to December 2019 and reduces the interest rate on Libor loans to Libor plus 125 basis points to 175 bps, depending on average availability.

In addition, the amendment makes the minimum 1.10 to 1.00 fixed-charge coverage ratio requirement applicable if availability under the facility is less than 12.5% of the aggregate revolving commitments, rather than if availability under the facility is less than 17.5% of aggregate commitments.

Amkor entered into the amendment on Dec. 24.

The semiconductor company is based in Chandler, Ariz.

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