News Article
SMIC negotiates US$600 million loan
Number one Chinese foundry SMIC has secured a US$600 million five-year loan from a series of Chinese banks. The cash will be used to expand three 300mm fabs in Beijing.
Number one Chinese foundry SMIC has secured a US$600 million five-year loan from a series of Chinese banks. The cash will be used to expand three 300mm fabs in Beijing.
SMIC chief executive officer Richard R Chang said, "We are pleased to receive the support of our Chinese banking partners. We plan to fund our future expansion by both internally generated cash flow and additional loans to be obtained from financial institutions."
SMIC chief executive officer Richard R Chang said, "We are pleased to receive the support of our Chinese banking partners. We plan to fund our future expansion by both internally generated cash flow and additional loans to be obtained from financial institutions."
