Amkor Technology extends existing financial covenants

By Sara Rosenberg

New York, Sept. 27 - Amkor Technology Inc. extended its financial covenant structure under the secured bank credit facility through Dec. 31, 2003. The bank loan will revert to its original covenants in January 2004.

The amendment does not require any prepayment of principal on the term loan and interest rates remained at previous levels.

The facility consists of a $97 million term loan and a $100 million revolver, which is unused. The term loan amortization scheduled will remain intact with payments of approximately $12 million per quarter beginning December 2003 and ending December 2005, according to a news release.

Amkor is a West Chester, Pa. provider of contract microelectronics assembly and test services.

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