During the fourth quarter we completed a series of financing initiatives designed to improve our liquidity. We completed a NT1.8 billion (approximately 54 million) 5-year secured term loan with a group of Taiwanese lenders, and we replaced our 30 million secured revolving credit facility with a new 100 million senior secured revolver that is available through November 2009. In addition our chairman, James Kim, and members of his family, subscribed to an offering of 100 million of 6.25 convertible subordinated notes due 2013, the proceeds of which were used to repurchase 100 million of 5.75 convertible notes due June 1, 2006.
More Quotes from Ken Joyce:
They made a good play. They executed well, but I thought our guys played well today, also. They just made the play in the end.Ken Joyce
I went back and forth with it in my head for a while before I made the decision.
Ken Joyce
I thought he pitched well, picking up right where he left off last season. He deserved a better fate than what he got today.
Ken Joyce
As we seek to increase profitability, we are undertaking a comprehensive program designed to streamline our corporate-wide support organization and reduce SGA costs. Fourth quarter SGA expenses included a charge of 3.3 million associated with employee reduction and separation expenses, which we expect to yield annualized savings of around 8 million. We intend to continue this process during 2006 with the goal of not only reducing costs, but also improving operational effectiveness.
Ken Joyce
It was nice to see (Cheng) go out and compete today without his best stuff.
Ken Joyce
I can't understand how his record is how it is. It seemed like every one of his pitches had movement on it.
Ken Joyce
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Based on Topics: Family QuotesBased on Keywords: convertible, repurchase, revolver, subordinated, subscribed, taiwanese
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