Spansion secures $411M financing for SP1 fab in Japan

May 2, 2007 – Spansion Inc. has secured a 48.4 billion yen (US ~$411 million) 45-month term loan to restructure its operating lease obligations and equip its SP1 300mm fab in Aizuwakamatsu, Japan, for 65nm flash memory production.

GE Capital Solutions, Global Electronics Services is taking a lead agent role in the financing, which it says is one of the largest semiconductor financings in the history of Japanese financial markets, and one of the first syndicated loans collateralized with semiconductor assets.

“In addition to helping a valued customer meet these demands and grow, today’s news is indicative of our ability and desire to finance larger transactions, leveraging both the capital markets and our global industry expertise,” said Roger Innes, president/CEO of GE Capital Solutions GES, in a statement.

Spansion says its planned SP1 expansion will be online later this year, making the company the lone NOR flash memory supplier producing devices on 300mm/65nm wafers.


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