Global AT Electronics, the holding company of United Test and Assembly Centre UTAC, tapped the Asia high-yield market late last week, demonstrating the diversity of offerings carried by the wave of issuance in January.
UTAC is the sixth-biggest outsourced semiconductor assembly and test service provider in the world, with manufacturing plants in Singapore, Thailand, Taiwan and China. It was bought by buyout funds Affinity Equity Partners and TPG Capital in 2007, with each owning 50%.
UTAC posted revenues of $946 million during the 12 months to September 2012 and earnings before interest, taxes, depreciation and amortisation of $244 million in the same period.
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