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2004-1-9 07:38:00 a.m. HKT, XFNA
Hong Kong-listed QPL unit ASAT to sell 125 mln usd of bonds in US
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HONG KONG (AFX-ASIA) - Hong Kong-listed QPL International Holdings Ltd
said unit ASAT Holdings Ltd plans to sell about 125 mln usd worth of 7-year
bonds to institutional investors in the US.
The bonds will be issued by NEW ASAT (Finance) Ltd, a wholly-owned
subsidiary of ASAT Holdings Ltd. The latter will provide the guarantee.
ASAT intends to use the proceeds to redeem its outstanding bonds due 2006
as well as for general corporate purposes, working capital and capital
expenditures, the company said in a statement.
QPL owns a 43.05 pct stake in ASAT Holdings Ltd, which is listed on the
Nasdaq exchange under the stock code ASTT.
QPL is an investment holding company whose subsidiaries manufacture
integrated circuits, which it supplies to multinational companies in North
America, Europe and Asia.
jill.wong@afxasia.com
jyw/mh
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