ASAT Holdings to sell $125 million 7-year notes

New York, Jan. 7 - ASAT Holdings Ltd. said it plans to sell $125 million of seven-year senior notes.

The securities due 2011 will be issued through the company's New ASAT (Finance) Ltd. subsidiary and will be guaranteed by ASAT Holdings and its subsidiaries.

The Hong Kong and Pleasanton, Calif.-based provider of semiconductor assembly, test and package design services will use proceeds to redeem its 12½% senior notes due 2006 and for general corporate purposes, additional working capital and capital expenditures, which may include costs incurred in relocating manufacturing operations to Dongguan, China and the purchase of assembly and test equipment to expand capacity.

ASAT will sell the notes as a Rule 144A offering.

No further details were available on the deal, which was announced late Wednesday.

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