|By Business Wire||
|September 28, 2012 11:40 AM EDT||
Renesas Electronics Corporation (TSE:6723)(hereinafter “Renesas”), a premier supplier of advanced semiconductor solutions, today announced the execution of an agreement of a syndicate loan, with Mizuho Corporate Bank, Ltd., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Trust Bank, Limited, and Mitsubishi UFJ Trust and Banking Corporation as arrangers to secure the long-term stabilization fund. This press release is separate from Renesas’ announcement of “Renesas Electronics Announces the Successful Implementation of Measures to Ensure a Robust and Profitable Structure” also released today.
Overview of the syndicate loan
161.1 Billion Yen
|2)||Arrangers:||Mizuho Corporate Bank, Ltd.|
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
|Sumitomo Mitsui Trust Bank, Limited|
|Mitsubishi UFJ Trust and Banking Corporation|
Purpose of the fund:
2. Purpose of the financial arrangements
To secure the long-term operation fund by restructuring the short-term loan to a long-term loan in order to stabilize the financial base required to accelerate Renesas’ structural reform and further development of solutions to enable the Smart Society.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723), the world’s number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad-range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in 20 countries worldwide. More information can be found at www.renesas.com.