Online information source for semiconductor professionals

Creditors back Hynix to the tune of US$597 million

23 December 2008 | By Mark Osborne | News > Fab Management

Popular articles

New Product: Applied Materials new EUV reticle etch system provides nanometer-level accuracy - 19 September 2011

Oberai discusses Magma’s move into solar PV yield management space - 29 August 2008

‚??Velocity‚?? the new buzzword in Intel‚??s PQS annual awards - 12 April 2012

Applied Materials adds Jim Rogers to Board of Directors - 29 April 2008

New Product: ASML Brion‚??s Tachyon MB-SRAF enables OPC-like compute times - 19 September 2011

Korean banks that bailed out Hynix Semiconductor in 2001 have agreed new cash loans of approximately US$597 million, which is expected to provide the memory manufacturer with several quarters of liquidity. Banks including, Korea Exchange Bank will gain new shares in Hynix but will also rollover debts expected to be paid through 2009.

The expected news comes after Qimonda AG also received new funds from the State of Saxony and an unidentified banking institution in Portugal. Infineon, Qimonda’s largest shareholder also participated in the new liquidity round.

Taiwan’s largest DRAM producer, Powerchip Semiconductor is also attempting to gain new funding with support from the Taiwanese Government and has been reported to be seeking closer ties with joint venture company Elpida Memory.

The call for cash by many of the memory manufacturers is due to almost two years of quarterly losses as oversupply in both DRAM and NAND flash memory have seen ASPs plunge to below manufacturing costs for the majority of the players.

Related articles

Hynix to receive US$960 million in new funding - 22 April 2009

Hynix raises US$300 million in IC packaging outsourcing deal - 18 May 2009

Hynix cuts capital spending by $1 billion - 27 March 2008

Numonyx increases stake in Wuxi JV fab with Hynix - 25 September 2008

Freescale seeks US$1 billion new funding but risks ‚??junk‚?? credit status - 11 February 2009

Reader comments

No comments yet!

Post your comment

Please enter the word you see in the image below: