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| Taiwan's Powerchip Semiconductor get Powertech Technology and Kingston $ 125 million loans |
| Powerchip Semiconductor get Powertech Technology totaling $ 125 million and its largest shareholder loans provided by Kingston Technology, the loan will help its long-term customers Powerchip Semiconductor cope with the current difficulties, as well as including Powertech Technology to creditors, including debt repayment.
NEW YORK, July 10 reported that Powerchip Semiconductor Corporation 10, 2011 rose 6.5% after the company received a total of $ 125 million loans Powertech Technology Inc. (6239.TW) and its largest shareholder Kingston Technology companies.
Powertech Technology is the world’s largest memory chip testing and packaging companies. The company on the 9th, said the loan will help its long-term customers Powerchip Semiconductor cope with the current difficulties, as well as including Powertech Technology to creditors, including debt repayment.
Fubon Securities analyst Kenneth Lee, said the loan will be provided in the short term as Powerchip Semiconductor help; But the company still needs a lot of money for technology upgrades and repay the debt, so the long-term outlook remains bleak.
Powertech Technology, said 13.6% of loans provided by the company, this one-year loan interest rate of 3.25 percent. 0451 GMT, Powertech Technology rose 1.9 percent to NT $ 74.40 yuan.
Powerchip Semiconductor since the second quarter of 2007 has been published quarterly loss. At that time the industry-wide excess supply caused by the industry’s longest-ever decline again, assets Powerchip Semiconductor has also eroded.
By the end of March, Powerchip Semiconductor scale short-term loans amounted to NT $ 12.15 billion yuan, will be long-term loans due within one year reached NT $ 38.21 billion yuan.
The end of June, Powerchip Semiconductor reconfigure the scheduled June 17 expiration of 1.5785 billion in convertible bonds issued overseas terms, because there is not enough money to repay bondholders.
Under the new terms, each U.S. $ 1,000 principal amount of debentures convertible into common stock worth $ 600 and $ 400 in cash.
However, the new provisions did not get the consent of all creditors; regulatory agencies still prohibit investors Powerchip Semiconductor stock margin trading． | | |  |
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