TECH Semiconductor taps $400 million facility

Proceeds from the facility will be utilized for working capital and part refinancing of an existing facility.

TECH Semiconductor Singapore is paying a visit to the loan markets after two years with a $400 million facility. Mandated arrangers ABN AMRO, DBS Bank, OCBC and SSBCiti have launched the facility into sub-underwriting earlier this week. The facility comprises of a $150 million revolving credit and a $250 million term loan.

The tenor of the facility is 3.5 years with a blended average life of 2.8 years. The availability period for the term loan is 12 months, while the revolving credit will be available throughout the tenor of the facility. General syndication is slated for the second week of October following the close of sub-underwriting, while the signing of the loan is...

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