CSM clinches fab funding
Guaranteed by the Export-Import Bank of the United States, the loan is divided into two tra n ches 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 of the two tranches 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 Corp o ration (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.