Macronix signs NT$18 billion syndicated loan

NOR flash and mask ROM chipmaker Macronix International has obtained a syndicated loan worth NT$18 billion (US$564 million) from 15 banks, to fund the smooth operation of its new 12-inch wafer fab, according to company chairman and CEO Miin Wu. Macronix is scheduled to commence volume production at the facility in 2011 with an initial monthly capacity of 20,000 wafers, said Wu.
Macronix currently has about NT$30 billion in cash on hand, Wu indicated. The NT$18 billion syndicated loan will help further enhance the company's operations and financial structure, Wu added.
Macronix has stepped up efforts to expand its capacity in 2010, in view of the company's optimistic business outlook. It wrapped up a deal to buy a 12-inch fab from DRAM maker ProMOS Technologies, with new capacity to focus on production of 75nm NOR flash and 45nm ROM chips.
Macronix recently revealed plans to tap the automotive NOR market, in a move to extend its market reach beyond computing and consumer electronics products. In addition, the company expects shipments of its ROM products to be driven by booming sales of 3D-enabled handheld games consoles.