TradingMarkets.com
19 Jun 2008
SINGAPORE, Jun 20, 2008 (Thomson Financial via COMTEX) -- STTSY | Quote | Chart | News | PowerRating -- Singapore chip tester and packager STATS ChipPAC Ltd. said on Friday its will pursue debt financing to fund its proposed cash distribution to shareholders under a capital reduction scheme.
The company will distribute as much as $813 million in cash to shareholders based on the capital reduction exercise proposed in January.
"The debt financing is expected to consist of a private placement of senior notes and senior secured credit facilities comprising a term loan and a revolving credit facility," STATS ChipPAC said in a statement.
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