Taiwan banks loan ProMOS cash

Banks actually bail someone else out

By Nick Farrell

Tue Feb 17 2009, 11:36

SUFFERING chipmaker ProMOS has been chucked a lifeline by Taiwanese bankers to the tune of $88.23 million.

However the money is a fair bit short of the cash that the memory chip maker would need to cover the redemption of $330 million worth of overseas convertible bonds it issued in 2007.

ProMOS is chatting with other DRAM makers including Elpida Memory to consolidate in what they are calling the industry's worst downturn since 2001. µ

L'INQ
AP

Micron believes DRAM prices have bottomed out There is light at the end of the tunnel Friday, 10 February 2012, 17:43 PM Read more	Elpida looks to Micron deal to save it from $1bn loan repayment Could spell the end of Japanese DRAM production Wednesday, 18 January 2012, 15:26 PM Read more
Elpida starts producing 25nm DRAM chips Shipping now Wednesday, 3 August 2011, 17:21 PM Read more	Elpida needs $1bn to move into smartphone memory business Not quite as cheap as chips Monday, 11 July 2011, 15:24 PM Read more
Elpida launches 4Gb DDR2 for smartphones and tablets Joins Samsung at the top Thursday, 7 April 2011, 15:48 PM Read more	Elpida says Japanese eqarthquake has not disrupted supplies Has materials until end of July Monday, 28 March 2011, 10:35 AM Read more

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Taiwan banks loan ProMOS cash

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