HSINCHU, Taiwan, July 12, 2016 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today announced that through its majority-owned subsidiary ChipMOS TECHNOLOGIES INC. (TWSE: 8150), ChipMOS TECHNOLOGIES (SHANGHAI) LTD. ("ChipMOS Shanghai"), has secured a new US$33 million, three-year, floating rate, secured, non-revolving credit line. Bank of Taiwan acted as lead manager of the syndicate, which also included Land Bank of Taiwan.
ChipMOS Shanghai expects to use the proceeds from the credit facility to further build out its assembly and test capacity for LCD drivers and to provide additional working capital for general corporate purposes.
Mr. S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, and representatives from the bank syndicate were present at the signing ceremony held in office of Bank of Taiwan in Shanghai, China.
S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We appreciate the continued excellent partnership of Taiwan's most prominent banking institutions in support of our growth plan. As in the past, we are strategically adding capacity in a conservative manner in order to best match anticipated customer demand requirements with our OSAT footprint. Our ongoing China expansion remains central to our longer-term success, and will help ensure our leadership position as the semiconductor industry supply chain continues to dynamically evolve at a rapid pace."
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ: IMOS) (http://www.chipmos.com) is an industry leading provider of semiconductor assembly and testing services. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Qingpu Industrial Zone, Shanghai, China, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries. The Company's majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), is listed on the Taiwan Stock Exchange under Stock Ticker 8150.
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.
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SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.