After the slow response due to the holiday season, syndication of ASE Assembly Test ShanghaiÆs $190 million five-year credit has been well received. The mandated arrangers are DBS Bank and HSBC.
The financing features a margin of 90bp over Libor and an average life of four years. Advanced Semiconductor Engineering ASE Taipei is the parent company.
Seven commitments have been received so far with a handful of banks awaiting credit approvals. An extension has been implemented and banks are to revert by the end of January.
The funds are to partly refinance existing debt and for general corporate purposes.
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