Amkor Technology exec touts balance sheet flexibility, 13% sales growth over two years

By Lisa Kerner

Charlotte, N.C., March 11 – Amkor Technology, Inc. has “a lot of flexibility with the balance sheet” as well as “a long runway” and options when it comes to managing debt, said senior director of finance and investor relations Greg Johnson.

Johnson made his comments on Wednesday during a presentation at Goldman Sachs’ TMT Leveraged Finance Conference in New York City.

During the presentation, Johnson was asked about the company’s higher-coupon callable debt and whether Amkor planned to go to the market soon.

Johnson said Amkor could pay all or a part of its callable debt and “will always be opportunistic” if a deal in the market makes sense.

According to the presentation, Amkor has $70 million of term loans due 2016, $110 million of term loans due 2017 and $345 million of senior notes due 2018.

The company has $400 million of senior notes due in 2021, followed by $525 million of senior notes due in 2022.

Amkor’s total cost of borrowing is now about 6%, and the company has about $480 million of available credit facilities in the United States, Asia and Korea.

Johnson said Amkor’s sales topped $3 billion in 2014 and grew 13% over the past two years.

Amkor is a semiconductor company based in Chandler, Ariz.

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