Aviza Technology Completes $55 Million Credit Facility.Selects United Commercial Bank to Lead Credit Facility SCOTTS VALLEY, Calif. -- Aviza Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AVZA), a supplier of advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets, today announced the completion of a new asset-backed credit facility led by United Commercial Bank, a wholly owned banking subsidiary of UCBH Holdings, Inc. (NASDAQ:UCBH). The new credit facility replaces and refinances the Company's revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. with Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , N.A. and mortgage line of credit with iStar Financial Inc., which were due to mature in August 2007 and September 2007, respectively. The new credit facility is not to exceed an aggregate principal amount of $55 million and includes a two-year revolving facility of up to $44 million that is secured by accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , inventory and fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → ; a three-year equipment term loan of up to $4 million; and a four-year commercial real estate term loan of up to $13 million. "Securing this new credit facility is an important step in our growth," said Patrick C. O'Connor, Aviza's Executive Vice President and Chief Financial Officer. "In addition to obtaining lower interest rates, we have restructured the long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. secured by the real property that Aviza owns in Scotts Valley, Calif. With the completion of our recent equity offering and the new credit facility, Aviza is a financially stronger company." O'Connor continued, "The new credit facility provides us with additional capital resources to fund investment in our core markets as well as the newer growth markets of atomic layer deposition A semiconductor manufacturing technique that deposits a single layer on a chip that is only one atom or one molecule thick. As elements on a chip decreased to below 100 nm, this essential technology for making the chip ever smaller became commercial after the turn of the 21st century. and wafer level packaging." Johnny Lee, Senior Vice President and Manager of the Technology Banking Group with United Commercial Bank, commented, "We are pleased to establish a relationship with Aviza Technology. We are committed to working closely with technology and fast-growth companies; and we believe that our primary emphasis on companies doing business in Asia will help Aviza capitalize on its business opportunities in Asia." SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. STATEMENT This press release contains forward-looking statements. These forward-looking statements are based on our management's current expectations and beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations. You should not rely upon these forward-looking statements as predictions of future events because we cannot assure you that the events or circumstances reflected in these statements will be achieved or will occur. These forward-looking statements include, but are not limited to, the statements made by Patrick O'Connor and all statements containing the words "believes," "expects," "forecast," "may," "will," "should," "seeks," "intends," "plans," "estimates" or "anticipates" or the negative of these words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. or other variations of these words and phrases or comparable terminology. Many factors could cause our actual results to differ materially from those projected in these forward-looking statements, including, but not limited to: variability of our revenues and financial performance; risks associated with product development and technological changes; the acceptance of our products in the marketplace by existing and potential future customers; disruption of operations or increases in expenses due to our involvement in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. or caused by civil or political unrest or other catastrophic events; general economic conditions and conditions in the semiconductor industry in particular; the continued employment of our key personnel and risks associated with competition. Some of these factors and other important factors are detailed in various Securities and Exchange Commission filings that we have made, particularly in our most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Quarterly Report on Form 10-Q Form 10-Q See 10-Q. , copies of which are available from us without charge. Please review these filings and do not place undue reliance on these forward-looking statements. We assume no obligation to update these forward-looking statements. About UCBH UCBH Holdings, Inc. ("UCBH" or the "Company"), with $10.35 billion in assets as of December 31, 2006, is the holding company for United Commercial Bank ("UCB UCB - University of California at Berkeley [TM]" or the "Bank"), a state-chartered commercial bank, which is the leading bank in the United States serving the Chinese community and American companies doing business in Greater China. The Bank has 50 California branches/offices located in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Sacramento, Stockton, Los Angeles and Orange counties, five branches in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , five branches in metropolitan Atlanta, three branches in New England, two branches in the Pacific Northwest, a branch in Houston, a branch in Hong Kong, and representative offices in Shanghai and Shenzhen, China and Taipei, Taiwan. UCB[TM], with headquarters in San Francisco, provides commercial banking services to small- and medium-sized businesses and professionals in a variety of industries, as well as consumer and private banking services to individuals. The Bank offers a full range of lending activities, including commercial real estate and construction loans, commercial credit facilities, international trade finance, cash management, private client services, loans guaranteed by the U.S. Small Business Administration, residential mortgages, home equity lines of credit, and online banking services for businesses and consumers. UCBH Holdings, Inc.'s common stock trades on The NASDAQ Global Select Market under the symbol "UCBH." About Aviza Technology, Inc. Aviza Technology, Inc. designs, manufactures, sells and supports advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets. The company's systems are used in a variety of segments of the semiconductor market, such as advanced silicon for memory devices, advanced 3-D packaging and power integrated circuits Power integrated circuits Integrated circuits that are capable of driving a power load. The key feature of a power integrated circuit that differentiates it from other semiconductor technologies is its ability to handle high voltage, high current, or a for communications. Aviza's common stock is publicly traded on the NASDAQ Global Market (NASDAQ GM: AVZA). Aviza is headquartered in Scotts Valley, Calif., with manufacturing, R&D, sales and customer support facilities located in the UK, Germany, France, Taiwan, China, Japan, Korea, Singapore and Malaysia. Additional information about the company can be found at http://www.avizatechnology.com. |
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