| By Business Wire |
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| September 28, 2012 11:40 AM EDT |
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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.
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Overview of the syndicate loan
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1)
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Amount:
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161.1 Billion Yen
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2)
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Arrangers:
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Mizuho Corporate Bank, Ltd.
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The Bank of Tokyo-Mitsubishi UFJ, Ltd.
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Sumitomo Mitsui Trust Bank, Limited
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Mitsubishi UFJ Trust and Banking Corporation
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3)
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Purpose of the fund:
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Long-term operation
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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.
