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Elpida taps banks for $1.3 billion loan for DRAM expansion |
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Mar 30, 2007 at 01:46 PM |
 Elpida Memory has received approximately $1.35 billion in loans, secured by 45 separate financial institutions, so that it can expand DRAM capacity. The move was prompted by the recent agreement with Powerchip Semiconductor to establish a Joint Venture business called Rexchip Electronics Corporation that is nearing completion of a new 300mm facility in Taiwan.
The new loan amount is only slightly less than Elpida's previously announced capital spending projection for 2007. The new loan is designed to provide greater flexibility in capital expenditure decisions, Elpida said in a statement.
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