HSINCHU, Taiwan, May 15, 2018 /PRNewswire/ — ChipMOS TECHNOLOGIES INC. (TWSE: 8150; NASDAQ: IMOS; “ChipMOS”) announced today that has secured a new credit line (aggregated as the “Credit Facility”) from a syndicate of eleven Taiwan banks. The Credit Facility, NT$12.0 billion (approximately US$412.4 million), with a five-year, floating rate term. ChipMOS expects to use a portion of the proceeds from the Credit Facility to refinance its existing bank debt, with the balance being used to provide additional working capital for general corporate purposes.
Taiwan Cooperative Bank acted as lead manager; Bank of Taiwan, Land Bank of Taiwan, Taishin International Bank, Hua Nan Bank, Chang Hwa Bank and Yuanta Bank acted as co-lead of the syndicate, which also included of the syndicate, First Commercial Bank, Shin Kong Bank, Bank of Panhsin and Mega International Commercial Bank. Mr. S.J. Cheng, Chairman and President of ChipMOS, and executive representatives from the bank syndicate were present at the signing ceremony, which was held at the head offices of the Taiwan Cooperative Bank in Taipei, Taiwan.
eTN Chatroom for Readers (join us)
S.J. Cheng, Chairman and President of ChipMOS, said, “We appreciate the continued support and excellent partnership of Taiwan’s most prominent banking institutions. The new Credit Facility will allow ChipMOS to refinance its existing debt obligations on favorable financial terms, while maintaining financial flexibility to support the Company’s growth plans. The Company’s strong financial health, market leadership and diversified growth opportunities in both core product areas and new expansion markets were all important factors in securing this additional financial support.”
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (http://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
Forward-Looking Statements
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC.
Contacts:
View original content:http://www.prnewswire.com/news-releases/alert-chipmos-secures-nt12-0-billion-credit-facility-300648202.html
SOURCE ChipMOS TECHNOLOGIES INC.
To post and circulate your own press release on FIR and the eTN Network please click here