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Chartered taps Japanese banks for Fab 7 expansion |
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Oct 09, 2007 at 11:21 AM |
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 Chartered Semiconductor has signed an agreement for a $300 million term loan facility from Japan Bank for International Cooperation (JBIC) and Sumitomo Mitsui Banking Corporation (SMBC). Under the conditions of the deal, Chartered is obliged to spend the loan with Japanese-based equipment companies. The loan supports the Phase 2 ramp of Fab 7.
Fifty percent of the loan will bear an interest rate of 5.65 percent. The other 50 percent of the loan will bear a funding cost of approximately London Interbank Offering Rate (LIBOR) plus 57 basis points.
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