Tower signs $40 million bonds to fund Fab2 expansion

June 14, 2007 – Tower Semiconductor Ltd. has accepted orders for approximately $40 million of long-term bonds from Israeli institutions, with average duration of 5.6 years.

The Israeli foundry says proceeds will be used to expand capacity at its Fab2 facility beyond current 24,000 wafers/month capabilities (reportedly up to 35,000 wafers/month), primarily in advanced technologies (0.13-micron and below).

Earlier local reports indicated Tower is seeking to purchase $80 million worth of used 200mm equipment from AMD, which is clearing out its fab in Dresden, Germany, for a 300mm upgrade.


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