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Monday, September 24, 2007 2:17:26 PM
ASTT in today on chart and good news:
ASAT Holdings Limited Announces $20 Million of New Financing
via COMTEX
Sep 24, 2007 8:00:00 AM
HONG KONG and MILPITAS, Calif., Sept 24, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
ASAT Holdings Limited (Nasdaq: ASTT) (the "Company"), a global provider of semiconductor package design, assembly and test services, today announced that its Chinese subsidiary ASAT Semiconductor (Dongguan) Limited ("ASDL") has received a commitment for RMB150 million (approximately US$20 million) of new financing from a Chinese bank in the form of a secured multi-currency revolving credit facility.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030414/ASATLOGO)
"As we have previously discussed, the key near-term objective has been to strengthen our financial position. By obtaining the credit facility we have delivered on this important goal and achieved another milestone in the implementation of our financial turnaround plan," said Kei Hong Chua, chief financial officer of ASAT Holdings Limited. "The facility supplements our existing cash flow and provides us with resources to expand our business during a period of positive growth for ASAT and our industry.
"We believe the overwhelming support we received in our recent consent solicitation and the competitive terms of this financing package demonstrate the fundamental soundness of our business," said Mr. Chua. "In the last 12 months we have undertaken a complete re-engineering of nearly every aspect of how we do business. We have made enormous progress and ASAT is emerging as a strong competitor in the assembly and test market."
Financing Terms
The multi-currency revolving credit facility has an aggregate commitment of RMB150 million secured by ASDLs trade receivables. Interest on borrowings under the facility will be at the applicable index rate plus 0.80%.
About ASAT Holdings Limited
ASAT Holdings Limited is a global provider of semiconductor package design, assembly and test services. With 18 years of experience, the Company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in-package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. Today the Company has operations in the United States, Asia and Europe. For more information, visit http://www.asat.com.
ASAT Holdings Limited Announces $20 Million of New Financing
via COMTEX
Sep 24, 2007 8:00:00 AM
HONG KONG and MILPITAS, Calif., Sept 24, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
ASAT Holdings Limited (Nasdaq: ASTT) (the "Company"), a global provider of semiconductor package design, assembly and test services, today announced that its Chinese subsidiary ASAT Semiconductor (Dongguan) Limited ("ASDL") has received a commitment for RMB150 million (approximately US$20 million) of new financing from a Chinese bank in the form of a secured multi-currency revolving credit facility.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030414/ASATLOGO)
"As we have previously discussed, the key near-term objective has been to strengthen our financial position. By obtaining the credit facility we have delivered on this important goal and achieved another milestone in the implementation of our financial turnaround plan," said Kei Hong Chua, chief financial officer of ASAT Holdings Limited. "The facility supplements our existing cash flow and provides us with resources to expand our business during a period of positive growth for ASAT and our industry.
"We believe the overwhelming support we received in our recent consent solicitation and the competitive terms of this financing package demonstrate the fundamental soundness of our business," said Mr. Chua. "In the last 12 months we have undertaken a complete re-engineering of nearly every aspect of how we do business. We have made enormous progress and ASAT is emerging as a strong competitor in the assembly and test market."
Financing Terms
The multi-currency revolving credit facility has an aggregate commitment of RMB150 million secured by ASDLs trade receivables. Interest on borrowings under the facility will be at the applicable index rate plus 0.80%.
About ASAT Holdings Limited
ASAT Holdings Limited is a global provider of semiconductor package design, assembly and test services. With 18 years of experience, the Company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in-package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. Today the Company has operations in the United States, Asia and Europe. For more information, visit http://www.asat.com.
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