News Article
Chartered clinches funding for new fab
Foundry giant Chartered Semiconductor Manufacturing has secured a US$653 million term loan facility from JP Morgan to fund the first phase ramp of Fab 7 in Singapore, the company's first 300mm wafer fabrication facility.
Foundry giant Chartered Semiconductor Manufacturing has secured a US$653 million term loan facility from JP Morgan to fund the first phase ramp of Fab 7 in Singapore, the company's first 300mm wafer fabrication facility.
Guaranteed by the Export-Import Bank of the United States, the loan is divided into two tranches and has an availability period of between two and four years.
It will be used to finance the purchase of equipment for Fab 7 from US vendors and will be drawn down in accordance with the ramp schedule. Each tranche will be repaid over a period of five years.
Chartered has also finalised a US$200 million term loan facility (with a US$100 million green-shoe) with Sumitomo Mitsui Banking Corporation (SMBC) and Oversea Chinese Banking Corporation, a US$50 million term loan facility with Bank of America and a US$150 million revolving credit facility with SMBC.
Together with the US$653 million term loan guaranteed by EXIM, these credit facilities will help the company achieve a production capacity at Fab 7 of 15,000 300mm wafers per month.
Guaranteed by the Export-Import Bank of the United States, the loan is divided into two tranches and has an availability period of between two and four years.
It will be used to finance the purchase of equipment for Fab 7 from US vendors and will be drawn down in accordance with the ramp schedule. Each tranche will be repaid over a period of five years.
Chartered has also finalised a US$200 million term loan facility (with a US$100 million green-shoe) with Sumitomo Mitsui Banking Corporation (SMBC) and Oversea Chinese Banking Corporation, a US$50 million term loan facility with Bank of America and a US$150 million revolving credit facility with SMBC.
Together with the US$653 million term loan guaranteed by EXIM, these credit facilities will help the company achieve a production capacity at Fab 7 of 15,000 300mm wafers per month.
