TAIPEI, Taiwan, June 29 /PRNewswire-Asia-FirstCall/ -- Advanced Semiconductor Engineering Inc. (TAIEX: 2311; NYSE: ASX) signed a syndicated loan agreement with 17 banks. The five-year NT$12bn syndicated loan is led by Citibank, Taipei Fubon Commercial Bank, Bank of Taiwan, Calyon Corporate and Investment Bank and First Commercial Bank. Other syndicated loan participating banks include China Development Industrial Bank, Changhwa Commercial Bank, Chinatrust Commercial Bank, Taiwan Cooperative Bank, Cathay United Bank, Mega Commercial Bank, Yuanta Commercial Bank, E.Sun Commercial Bank, Hua Nan Commercial Bank, Bank of Tokyo Mitsubishi, Shin Kong Commercial Bank and Shanghai Commercial & Savings Bank. Despite a difficult macro environment, ASE's syndicated loan was very well received and supported by local and foreign banking community and was oversubscribed by more than 70%. The proceeds from the syndicated loan will be used to repay loans due before June 2010 and for working capital. Joseph Tung, ASE Inc's CFO said "In the past 25 years, ASE Inc. has made tremendous progress in its core business and has grown into the largest outsourced semiconductor assembly and testing company in the world. ASE has operations in key strategic locations including Taiwan, South Korea, Malaysia, Japan, Singapore, China and major US and European countries. We are honored to have this opportunity to work once again with Citibank and other lending bank partners and the oversubscription is the best indication of the banking community's support for ASE Group. We believe ASE Group will be stronger and ever more competitive with the help of the banking community." Citibank's chief country officer, Mr. Morris Li, also indicated "Citibank continues to play an important role in assisting its Taiwan corporate clients in financing their investments, expansion, market penetration and influence on the world markets. We are glad to have this opportunity to work with ASE Group once again and this syndicated loan further shows Citibank's commitment in Taiwan." Media Contact: ASE Inc. Freddie Liu VP Finance Tel: +886-2-8780-5489 Email: Citibank Public Affairs Shannon Pu Tel: +886-2-2777-7786 Lana Shih Tel: +886-2-2777-7709 DATASOURCE: Advanced Semiconductor Engineering Inc. CONTACT: Freddie Liu, VP Finance of Advanced Semiconductor Engineering Inc., +886-2-8780-5489, or ; Shannon Pu, +886-2-2777-7786, or Lana Shih, +886-2-2777-7709, both of Citibank Public Affairs, for Advanced Semiconductor Engineering, Inc.

Copyright