Amkor Repays $300 Million Second Lien Term Loan.CHANDLER, Ariz. -- Amkor Technology Amkor Technology, Inc. (NASDAQ: AMKR) is a high-tech semiconductor product manufacturer that includes Intel and IBM among its primary customers. Previously headquartered in West Chester, Pennsylvania, United States, Amkor recently announced that it will move to Chandler, , Inc. (Nasdaq:AMKR AMKR Amkor Technology ) today announced that its subsidiary Amkor Technology Korea, Inc. received approval from the Bank of Korea The Bank of Korea is the national central bank of the Republic of Korea (South Korea). It was established on June 12, 1950 in Seoul. History The Bank of Korea, the central bank of the Republic of Korea (South Korea) was established on June 12, 1950 under the Bank of Korea with respect to its $300 million 7-year secured credit facility with Woori Bank Woori Bank (우리은행) is a bank headquartered in Seoul, Korea. The bank changed its name in 2002, and includes the former Commercial Bank of Korea, Hanil Bank, and Peace Bank. It was known from 1999 through 2002 as Hanvit Bank. . The proceeds of this loan have been drawn and were used to refinance and refund the outstanding principal on Amkor's $300 million second lien term loan due October 2010. Together with an additional $12.1 million in prepayment fees and accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. funded by Amkor, this transaction fully discharges all of Amkor's obligations under the second lien term loan as well as the subsidiary guarantees and collateral securing the second lien term loan. As previously announced, in connection with the early repayment of the second lien term loan, Amkor expects to record a charge of approximately $16 million in the second quarter of 2007, including $9 million in prepayment fees and $7 million to write off unamortized deferred debt issuance costs. About Amkor Amkor Technology, Inc. (Nasdaq:AMKR) is a leading provider of advanced semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services. More information on Amkor is available from the company's SEC filings and on Amkor's web site: www.amkor.com. |
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