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Published on 10/13/2004 in the Prospect News Bank Loan Daily.

Amkor approaches lenders for $300 million second-lien term loan

By Sara Rosenberg

New York, Oct. 13 - Amkor Technology Inc. initiated discussions with a group of institutional lenders on Wednesday about a $300 million six-year second-lien term loan (B1/B+), according to market sources. Citigroup has the sole selling role, with JPMorgan and Merrill Lynch acting as joint bookrunners.

The term loan is talked at Libor plus 450 basis points, sources said.

Proceeds will be used for working capital and general corporate purposes.

Covenants contained in the credit agreement will be similar to those in Amkor's outstanding 7 1/8% senior notes due 2011, according to a company news release.

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


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